Hedge Funds

MFA releases 'sound practices' update

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The Managed Funds Association has released an update of its "sound practices" guide for hedge fund use in self-policing their activities - this time expanding on such topics as valuation, risk controls, internal trading controls and responsibilities to investors.

As the largest trade group representing the hedge fund industry, the association has long been an advocate of self-oversight rather than further regulation. Its new document outlines the internal controls and sound business practices that it feels the industry needs to embrace.

The guide, previously published in 2000 and 2003, is aimed both at funds that need to register