Lobby Group Plans Fund Of Funds Best-Practices Guide

Jul 8 2008 | 8:43am ET

The Alternative Investment Management Association is set to add to the bevy of best-practices standards for the hedge fund industry.

The London-based industry group is readying the first set of standards for funds of hedge funds. AIMA says the guide, set for publication next year, will be “a practical business tool for fund of hedge funds managers and will also seek to provide relevant and insightful information for the investor, regulatory and political communities, and the hedge fund industry’s service providers.”

“There are currently no dedicated guidelines for fund of hedge funds managers yet the majority of new institutional investors tend to favor this investment route, rather than investing directly in hedge funds,” AIMA CEO Andrew Baker said.

Like the British Hedge Fund Working Group’s voluntary best-practices code for hedge funds unveiled earlier this year, this new set of standards is being drawn up by a group of industry luminaries, including representatives from Allianz Alternative Asset Management, Fauchier Partners, Financial Risk Management and Man Investments.

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