Tuesday, 23 September 2014
Last updated 6 hours ago
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.”
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.