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Benedicte Gravrand, Opalesque Geneva: According to the California Alternative Investments Association (CalALTs)'s new white paper on best practices for hedge fund and private equity operations, today's investor wish list includes the existence of an independent administrator, an internal CFO, segregation of duties, employee background checks, centralised operations, documented policies and procedures, a fiscal budget, an internal CCO, an external regulatory consultant, a clean regulatory history, formal compliance training, a tested disaster recovery plan, a cyber security plan, and related staff training. Quite a list.
Internal staffing
Hedge fund and private equity firms now should have an experienced CFO, a securities lawyer or regulatory professional for the position of CCO, experienced operations staff, and coverage for back office personnel.
Portfolio valuation
These include written policies and procedures, a formal valuation committee, price verified by back office and by an independent fund administrator.
Prime broker and hedge fund relationships
In order to maintain a successful relationship, the hedge fund and the prime broker need to have transparent communication on what the primary drivers are for each side, says the paper. These conversations need to be frequent and need to look at the holistic client relationship t...................... To view our full article Click here
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