London, 11 August 2007. The Alternative Investment Management Association (AIMA), the leading global hedge fund and alternative investment industry association welcomes the consultation paper released yesterday by the UK Hedge Fund Working Group.

AIMA believes that the initiative represents a substantial undertaking by a number of the UK’s largest hedge fund managers, most of whom are also AIMA members.

The initiative builds upon and is a welcome endorsement of the substantial body of work that AIMA has developed with and for the hedge fund industry in the UK and internationally over the last 10 years.

The group’s emphasis on developing key areas such as risk management and disclosure is also seen by AIMA as extremely timely and of particular importance.

AIMA believes it is vital that all key stakeholders – including AIMA’s members and investors – review its content and make use of the opportunity to comment to the Hedge Fund Working Group on the report’s recommendations.

Andrew Baker, Deputy CEO at AIMA commented: “AIMA looks forward to responding to this document and working with the UK Hedge Fund Working Group on the areas outlined”.