Sir Andrew Large, The Hedge Fund Standards Board
Publication in January of the Hedge Fund Working Groups (HFWG) final report on best practice standards signaled the beginning, not the end of a journey for the hedge fund industry.
The HFWG has now handed the baton on to the Hedge Fund Standards Board (HFSB), a body which will act as custodian of the best practice standards. The task ahead is to ensure that the process we have set in train takes root and becomes part of the fabric of the hedge fund industry.
For that to happen, we need other hedge fund managers to sign up to the standards, which in turn require the support and commitment of those who invest in hedge funds. In the past, these were mainly private individuals and family offices but, increasingly, the investor base in hedge funds is becoming institutionalised. It is these...