Monday, 4 May 2015
Last updated 2 days ago
Jan 8 2010 | 11:46am ET
The Managed Funds Association, an industry group that represent that alternative investment community, is launching an initiative to gather information from hedge funds, funds of funds and managed futures funds for use in its industry education and advocacy efforts. The organization is using the PerTrac P-Card system, which is already used by around 200 hedge fund managers to exchange secure information.
“As the primary source of industry information for policy makers, the media and the public, it’s important that we collect and aggregate data in a confidential and timely manner from as many managers as possible,” said Richard Baker, MFA president and CEO. “Following a lengthy search, MFA has selected PerTrac Financial Solutions as its partner in order to collect basic industry data, such as assets under management, the number of existing funds and number of industry-wide employees, while allowing managers to retain confidentiality. PerTrac’s P-Card is a secure tool that we will use to gather and aggregate information that will allow us to better understand and represent the global alternative investment industry. In addition, P-Cards have utility outside of MFA’s efforts, allowing for and encouraging increased and more frequent communication and transparency between managers and investors, which is a key goal of MFA.”
According to the MFA, it will share information on the industry solely on an aggregated basis in an effort to educate policy makers, the media and the public and to advocate for appropriate regulation and industry growth. MFA will use a third-party accounting firm to collect the data on its behalf. No fund-specific information collected via PerTrac P-Card, including fund names, will be released under any circumstances.
Gerry Mintz, PerTrac president and CEO, said, “PerTrac P-Card is a revolutionary tool which allows fund managers to communicate information to investors confidentially and directly using a secure e-mail attachment. More than 110 funds around the world have already registered to use P-Cards to keep their investors and prospects up-to-date on qualitative, performance and risk information. We are excited that MFA has chosen PerTrac P-Card as its preferred method of fund data collection, as it will help accelerate the adoption of this exciting new technology.”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…