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Stephen Miller Benedicte Gravrand, Opalesque Geneva for New Managers:

CFOs, COOs, CCOs and due diligence managers who participated at the recent Opalesque Operations Roundtable in New York, had some noteworthy recommendations for emerging managers on the topics of compliance, investment style, communication and due diligence.

Get a COO and a CFO The operations side of the hedge fund business is one of the many challenges for start-ups, who cannot ignore it anymore.

"Emerging managers 20 years ago could open an office, call up a broker, and begin trading. Operationally, today you have to set up all your systems and procedures prior to launch, and also hire the right people who should have experience in the business," said Stephen Miller. Miller is both CFO (Chief Financial Officer) and CCO (Chief Compliance Officer) at New Providence Asset Management, an investment office outsourced by institutional investors. The time commitment for the compliance officer role, he said, has increased over time. His firm also uses a consulting firm to handle some questions and to perform yearly mock compliance audits.

Emerging managers need to think hard about their future plans, says Corey McLaughlin, member of Arthur Bell, a CPA firm that specializes solely in the alternative investment ......................

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