Sun, Oct 23, 2016
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.


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. M&A - U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga, Hedge fund Parvus shows hand, toppling William Hill merger deal[more]

    U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga From The fierce battle to buy Britain's biggest private equity group has come to an unexpected conclusion, with the original bidder walking away with the prize. SVG Capital has agreed

  2. Marc Lasry: Energy is still a phenomenal opportunity[more]

    From Distressed debt specialist Marc Lasry said energy debt is still a "phenomenal opportunity" because investors can get "massively overpaid" for the risk they take on. There are "huge opportunities" in the energy sector especially in restructurings, the Avenue Capital Group CEO said Tues

  3. Opalesque Exclusive: Ex-SAC manager re-emerges with market neutral hedge fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A manager re-emerged from the SAC battleground last year to launch his own hedge fund under the umbrella of New York-based investment firm Endicott Group.

  4. North America - Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation, Billionaire hedge fund titans Dinan, Lasry on election, markets and best investment ideas[more]

    Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation From Kyle Bass, founder of Hayman Capital Management, on Wednesday warned that the U.S. is headed toward so-called stagflation. Stagflation is typically described as persistently high inflation and hi

  5. Macro hedge funds up 3.3% in one week on Fed and Brexit pays off[more]

    Komfie Manalo, Opalesque Asia: Hedge funds were boosted by the strong performance of global macro funds, with the Lyxor Global Macro Index gaining 3.3% as of the week ending Oct. 11 (-1.7% YTD), Lyxor Asset Management reported. Their short on the p