New York Roundtable Plans ‘Good Hedgekeeping’ Group

Aug 7 2008 | 12:59pm ET

There are a handful of voluntary hedge fund best practices regimes kicking around, but how many of them offer the equivalent of the Good Housekeeping seal of approval?

The New York Hedge Fund Roundtable is hoping to provide just that. The five-year-old group is planning to create an industry association that would create—and enforce—professional standards.

The Roundtable aims to create something along the lines of the New York State Society of Certified Public Accountants, the American Institute of Architects or the American Medical Association, Reuters reports, hoping that peer pressure can do what regulation of voluntary codes have thus far failed to achieve.

Those professional organizations “said, ‘If you don’t follow our rules, you won’t get on a committee,” Roundtable founder Stanley Goldstein told the news agency. And committee membership “is a powerful credential.”

The group hopes to have such an organization operation sometime next year, Goldstein, an accountant and founder of several hedge funds, said.

“It’s a great industry,” he said. “We don’t want to see it blown up because of a few bad guys. The industry has a public relations problem. It’s hard to find good press for hedge funds.”


In Depth

Dillon Eustace: The Advantages of ICAVs

Feb 11 2016 | 7:51pm ET

As the growth of alternative investment vehicles continues, global asset managers...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...