Catastrophe Reinsurer Nephila Joins Hedge Fund Standards Board

Oct 18 2012 | 4:19am ET

Nephila Capital, an investment manager specializing in natural catastrophe and weather risk reinsurance, has become a signatory member of the Hedge Fund Standards Board.

HFSB brings together managers, investors, regulators and consultants from around the world to help set hedge fund industry standards.

“As part of the application process, we performed an in-depth, gap analysis of the firm’s control structure in areas including disclosure, valuation, operational risk, governance, risk management and shareholder conduct,” said  Steve Glassman, a principal and chief compliance officer with Nephila. “This process was very beneficial to the firm and we expect it to provide an on-going benefit as each member of the HFSB is required to commit and conform to the standards on an annual basis.”

The HFSB standards are reviewed regularly in collaboration with managers and investors to ensure that they are effective guidelines, remain relevant, and are consistent with public policy and evolving industry practices.

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