GLOBAL - Alternative asset manager Aspect Capital and Henderson Global Investors are among five hedge fund managers who have committed themselves to the Hedge Funds Standards Board's (HFSB) standards.
The others funds signing up to the voluntary standards include Amber Capital, Krom River Investment Management and North Asset Management. There are now 58 signatories to the standards which have been suppored by the UK Financial Services Authority.
Amber Capital focuses on event-driven opportunities, investing primarily in equities and selectively in other areas of the capital structure. Founded over eight years ago, it has assets under management (AUM) of US$740m at May 1, 2010.
Aspect Capital is a systematic alternative asset manager established in 1997 by Anthony Todd, Martin Lueck, Michael Adam and Eugene Lambert. It manages $3.6bn for institutional clients.
Henderson Global Investors, wholly owned by Henderson Group, has $93bn AUM at December 31, 2009. The group’s first hedge fund was launched in 1999. The company now runs approximately $3bn in hedge and Ucits III absolute return funds. The strategies include equity long/short, equity quantitative market neutral, credit long/short, systematic global macro and multi-strategy.
Krom River Investment Management is a Cayman based multi-commodity fund manager with offices in Zug, Switzerland. It invests in a wide range of commodities through exchange traded futures and options using a combination of macro and fundamental research, as well as technical analysis. The fund was launched in July 2006.
North Asset Management is based in London and founded in 2002. Its flagship fund, the MaxQ Fund, is an uncorrelated alpha macro fund investing in a broad spectrum of assets including global fixed income, foreign exchange and equity markets.
“This demonstrates that the industry and managers are showing investors that they are taking regulations seriously,” Thomas Deinet, executive director at the HFSB.
“These standards are there to serve investors and enable better diligence by the investors. The standards require disclosures by the manager to the investor. If a manager is not complying, they have to explain to investors so that they are kept well informed,” Deinet added.
He said there was a “pipeline” of managers interested in joining the regulatory body.
Chairman of the HFSB Antonio Borges said: “The growing commitment to the HFSB process demonstrates the broad industry support for our standards, which are increasingly accepted as a benchmark by investors.”
This article originally appeared in Hedge Funds Review, an Incisive Media publication.
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