MFA backs efforts of President’s Working Group on Financial Markets

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The Managed Funds Association has weighed in with its support for the best practices reports for hedge funds recently released by the U.S. President’s Working Group on Financial Markets.

In a June 13 letter, the MFA noted its overall agreement with the recommendations made in April by the PWG’s Asset Managers’ Committee and its Investors’ Committee – two private sector groups comprised of asset managers and investors, respectively. The groups’ reports both outline guidelines established to help hedge funds improve their practices in areas including disclosure, risk management, asset valuation, compliance, business operations and conflicts of interest.

The reports