Hedge fund code to catch the willing and unwilling

Reuters- Many of Europe’s hedge funds will sign up to a voluntary code of standards to appease institutional investors and avoid punitive regulation, but even those that don’t will be unable to ignore it.

The standards on governance and disclosure, unveiled in October by the Hedge Fund Working Group, comprising powerful hedge fund managers including Brevan Howard and Man Group, were devised to counter criticism that the industry was opaque, secretive and destabilising the financial system.

Take-up so far has been slow, however, with only one other hedge fund having signed up to the standards beyond the original 14 in the working party.

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