Tue, May 24, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Hedge fund association AIMA publishes new guide for institutional investment

Tuesday, May 31, 2011

Todd Groome
Opalesque Industry Update - The Alternative Investment Management Association (AIMA), the global hedge fund association, has published a guide for investors and managers, written by members of AIMA’s Investor Steering Committee (ISC), that reflects preferences and priorities for institutional investors and investment allocations.

The aim of the guide is to outline investor views, expectations and preferences on a variety of important operational and organisational issues, which are increasingly the focus of due diligence reviews and discussion among investors and fund managers.

The authors of the guide are Kurt Silberstein (CalPERS), Luke Dixon (USS), Michelle McGregor Smith (BA Pension Investment Management), Andrea Gentilini (UBP), and Adrian Sales (Albourne Parners). AIMA’s ISC is jointly chaired by current AIMA Chairman Todd Groome and former AIMA Chairman Christopher Fawcett of Fauchier Partners.

AIMA Chairman Todd Groome said: “AIMA is very pleased to sponsor this paper, outlining institutional investor views regarding a number of important areas of operational and organisational ‘infrastructure’, which are receiving increased industry focus. AIMA has supported and provided publications related to a wide variety of educational guides and best practices throughout its 20-year history. In light of the ongoing ‘institutionalisation’ of the hedge fund industry and the growth of institutional investor participation, we hope that this paper, authored by some of the most influential investors and advisors in the industry, will be a useful reference guide to both investment managers and investors in hedge funds.”

The paper, entitled A Guide To Institutional Investors’ Views And Preferences Regarding Hedge Fund Operational Infrastructures, begins with a discussion of “Governance”, authored by Luke Dixon of Universities Superannuation Scheme (USS), which outlines the fundamental importance of good governance, key constitutional documents and the role of boards of directors.

The second section focuses on “Risk” and is authored by Andrea Gentilini from Union Bancaire Privee (UBP). It focuses on a variety of reporting practices concerning the investment portfolio, operations, counterparties and liquidity.

The third section, covering “Investments”, is authored by Kurt Silberstein of the California Public Employees Retirement Scheme (CalPERS) and discusses performance reporting, terms and conditions, control of assets, and transparency.

The fourth section addresses “Capital” and is authored by Michelle McGregor Smith of British Airways Pension Investment Management. It discusses issues related to a firm’s ownership structure, investor relations, and related sales and marketing activities.

Finally, the fifth section, “Operations”, authored by Adrian Sales of Albourne Partners, focuses on a variety of operational issues, including valuation, business continuity planning, compliance and relationships with service providers.

The paper, entitled A Guide To Institutional Investors’ Views And Preferences Regarding Hedge Fund Operational Infrastructures, can be downloaded here: Source

(press release)


As the global hedge fund association, the Alternative Investment Management Association (AIMA) has over 1,200 corporate members (with over 5,000 individual contacts) worldwide, based in over 40 countries. Members include hedge fund managers, fund of hedge funds managers, prime brokers, legal and accounting firms, investors, fund administrators and independent fund directors. www.aima.org.


Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Other voices: What current trends tell us about the future of the hedge fund industry[more]

    By: Don Steinbrugge, Agecroft Partners The following comments are excerpted from Agecroft Partners’ Don Steinbrugge’s presentation delivered at the 69th CFA Institute Annual Conference held on May 9th, 2016 in Montreal. In Mr. Steinbrugge’s session titled "What Current Trends Tell Us about th

  2. Investing - Steve Cohen boosted Sotheby’s stake to $86 million last quarter, Larry Robbins' hedge fund sells off all CHS, UHS hospital stocks, Tiger Global cut stakes in Amazon, JD.com, Apple last quarter, Invest in real estate near biotech hubs, Prudential’s Hyat says, Valeant: A hedge fund hotel wrecking ball[more]

    Steve Cohen boosted Sotheby’s stake to $86 million last quarter Billionaire trader and art collector Steve Cohen is on a buying spree of Sotheby’s shares. Cohen’s Point72 Asset Management acquired 1.2 million Sotheby’s shares, bringing its total to 3.2 million valued at $86.1 million at

  3. Legal - Boaz Weinstein wins round in fight with Canada’s PSP[more]

    From FT.com: Boaz Weinstein, the hedge fund manager credited with spotting JPMorgan’s “London Whale” in 2012, has won a round in a legal battle with Canada’s Public Sector Pension Investment Board that had become a test case of responsibilities when clients withdraw money. PSP sued Mr Weinstein and

  4. Regulatory - The latest Fannie and Freddie reform bill offers a bonanza for hedge funds[more]

    From WSJ.com: The latest housing finance reform bill making the rounds on Capitol Hill offers a bonanza for hedge funds seeking to cash in on their investments in Fannie Mae Mae and Freddie Mac—but the cost to taxpayers would be steep. Congressman Mick Mulvaney, the South Carolina Republican, introd

  5. West Virginia objects to Alpha Natural sale to hedge fund[more]

    From AP/Heraldcourier.com: West Virginia's environmental authority has filed an objection to the proposed $500 million sale of Alpha Natural Resources' assets to a hedge fund, arguing that the deal could leave the state holding hundreds of millions in reclamation liabilities. The Register-Hera