Wealth Bulletin- In January, 14 of the UK’s largest hedge funds, including Man Group, Brevan Howard and Gartmore, backed the Hedge Fund Working Group’s best-practice standards.

These aim to improve governance and disclosure and to promote transparent and independent valuation.

Six months on, however, only one, unnamed, hedge fund beyond the 14 working group members, has signed up to the code.

Sir Andrew Large, chairman of the working group, believes it is unrealistic to expect hedge funds to sign up immediately.

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Tags: 511, chief-executive, controversial-areas, disclosure, home-loans, independent-valuation, investor-confidence, mapeley, opacity, working-group

LONDON (Reuters) Gartmore head of global emerging markets Chris Palmer is net short Indian stocks and is concerned about government interference in private enterprise and a lack of financing for growing firms, he told Reuters.

Palmer, who manages a range of portfolios including the $1 billion (513 million pounds) Gartmore Sicav Emerging Markets fund, said his long-only funds have been cutting back exposure to India, while his hedge funds are net short.

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Tags: 100-million, controversial-areas, federal-reserve, pension-schemes, periods, soft-commodities