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...