FINalternatives- There is a lack of consensus about enforcement of standards on the part of U.K.-based hedge funds, according to new research.
The report by Kinetic Partners and the Bank of New York Mellon shows that despite the ongoing credit crunch, more than half of U.K.-based hedge fund managers have little or no awareness of the Alternative Investment Management Association’s recommendations on hedge fund valuations.
Specifically, hedge funds managers across the pond were “confused” about AIMA’s recommendations and feel that they haven’t had a clear impact on the industry. The managers who were against further regulation in this area said that AIMA does not have jurisdiction to set binding rules, and that the cost of implementing these alongside the existing mandatory requirements, could damage the attractiveness of the U.K. as a center for investment managers.
