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Last updated 7 hours ago
Oct 18 2011 | 8:51am ET
Aberdeen Asset Management and Investcorp are throwing their weight behind the four-year-old Hedge Fund Standards Board, an independent group aiming to bring unity to industry practices. But while the group and its “Standards” are well-known in Europe, thus far they have not gained momentum in the U.S. and Asia.
Amelia Fawcett, chairman of the HFSB, is hoping that the support of the two investment giants, along with consultancy Aon Hewitt, will change that.
“We are very pleased to welcome Aberdeen, Investcorp and Aon Hewitt. The growing commitment to the HFSB from the investor community is particularly valuable as we embark on our international drive to build support for the Standards in the U.S. and Asia,” said Fawcett.
Andrew McCaffery, global head of hedge funds at Aberdeen Asset Management, said: “As a fund of hedge funds manager, we encourage all our managers to become signatories to the HFSB process.”
The HFSB was formed in January 2008 to agree standards of good practice for hedge fund managers. The Standards and a full list of signatories are available at the HFSB Web site.