WEST PALM BEACH, FL (HEDGECO.NET) – Dion Friedland, the president of Hedge Fund Association [HFA] is stepping down from that post according to a press release. Friedland was also the founder of theorganization, and had served as the president of HFA for seven years. He successfully pioneered the organization into an international body during an era of significant growth for hedge funds. Mr.Friedland founded the HFA in January 1996; he is also the chairman and founder of Magnum Funds.
In 1996 when the HFA was formed, total assets managed by global hedge funds totaled about $200 billion, today, the latest data from TASS put the total hedge fund managed assets to about $750 billion. Initially the organization was called Fund of Funds Association, but was eventually changed to Hedge Funds Association in 1998. Membership in the organization includes Investors, Service providers, as well as hedge fund managers and other market participants.
Part of the objective of the Hedge Fund Association is to help to unite members of the hedge fund industry; the group served an educative function by providing numerous articles about hedge funds to investors who at the time knew very little about hedge funds and their trading strategies. In this regard, HFA was an advocate organization serving the hedge fund industry. Pretty much Friedland and HFA helped to advance the cause of hedge fund industry in many ways.
Today many more investors understand what hedge funds are, and more importantly their investment philosophy of absolute returns. Hedge fund investment is no longer for only wealthy individuals anymore, Endowments, Banks, Insurance organizations and other institutional groups have increasingly adopted hedge fund trading philosophy. With the advent of Fund of funds, many more mainstream investors are investing in hedge funds as well.
Friedland had this to say about the contributions made by his association towards the popularity and growth of hedge funds, “Hedge funds have surged in popularity in recent years, particularly as they have provided a means for capital preservation in bear markets. It has been a privilege heading this association and helping promote public awareness about hedge funds during a time of huge transition and growth in the industry.” Friedland�s successor has not been named yet, but HFA�s spokesperson said an announcement about that will be made in the coming days.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
