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From Kirsten Bischoff, Opalesque New York:

Last week Opalesque carried a research by Geneva-based firm Hedge Fund Appraisal, which conducted a survey to better understand investors’ expectations from hedge fund independent directors.

More than 75% of the survey respondents said they believe that offshore hedge fund directors can effectively contribute to the protection of shareholders’ rights, and 76% of those surveyed say they take into consideration the quality of the board of directors in their choice of hedge fund. However, during a recent conference one director of a large fund said that not once had a fund investor ever contacted him. Additionally, directors also believe that many investors could take further steps in their due diligence process when evaluating a fund’s board.

“Investors should be performing due diligence on hedge fund directors, making sure that they can fulfill the role,” says Ronan Guilfoyle, Senior Manager at Cayman-based dms Management Ltd. (“dms”). The firm, supported by a staff of more than 30 people, provides offshore services to hedge funds and has a team of individuals who have been appointed to hedge fund board of directors.

Whilst investors say that they are placing greate......................

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