Hedge Fund Standards Board welcomes President's Working Group proposals

Source: Hedge Fund Standards Board

The Hedge Fund Standards Board (HFSB) welcomes the reports on best practices for hedge fund managers and investors published today in the US by the President's Working Group on Financial Markets.

Sir Andrew Large, chairman of the HFSB, said: "There is much common ground with the best practice standards for managers we published earlier this year. Our fundamental aims are the same and we both share a similar approach to addressing issues such as valuation, risk management and disclosure.

"We also welcome the principles and practices set out by the Investors' Committee since the commitment of investors is so important to enforcing best practice.

"The HFSB looks forward to working with our colleagues in the US on developing harmonisation of international practice."

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