The guide is called “A Guide To Institutional Investors’ Views And Preferences Regarding Hedge Fund Operational Infrastructures” outline the views and preferences on a number of operational and organizational issues which are increasingly become the subject of due diligence reviews. The paper is divided into 5 sections. I will list the contents of the sections below and starting tomorrow I will abstract each section. Investors are organizing and will have a large impact on how the hedge funds will be organized in the future.
As an example the guide, recommends that hedge funds issue voting units so investors have a say on material changes or events in the hedge funds. More to come tomorrow. Keep reading
GOVERNANCE
Relevance
Board of Directors
RISK
Reporting
Portfolio Risk
Operational Risk
Counterparty Risk
Liquidity risk
INVESTMENTS
Performance
Terms
Economics
Control of Assets
Transparency
CAPITAL
Firm Ownership
Fund Investors
Investor Relations
Sales and Marketing
OPERATIONS
Organization and Control Environment
Corporate Structure
Oversight and Reporting Lines
Separation of Duties
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