11 Feb 2010

HFSB Expands International Investor Role

The Hedge Fund Standards Board (HFSB) is expanding the role played by investors on its board by adding representatives from two of the biggest international investors in hedge funds, New Holland Capital and the Future Fund, Australia.

The HFSB has also signed up two more of the leading London-based hedge fund managers, BlueCrest Capital Management LLP and Winton Capital Management Ltd. Both will become members of the HFSB Founders’ Council, the core group of managers and investors who launched the project and provide regular advice to the Board.

Virtually all of the largest hedge fund managers in London have now become signatories to the Standards and are therefore committed to applying them.

Antonio Borges, Chairman of the HFSB, said:

“These developments mark a significant step up in the international support for the Standards from both investors and managers. The HFSB has taken a decision to expand investor representation and we are delighted to have backing from two more of the biggest global investors in hedge funds to broaden our already significant investor input. We are also delighted to have BlueCrest and Winton, two highly regarded players in the London hedge fund scene, signaling their commitment to the Standards.”

The new trustees of the hedge fund standard setter are Tom Dunn, Managing Principal of New Holland Capital and David Neal, Chief Investment Officer of the Future Fund.

New Holland Capital is the hedge fund advisor of the Netherlands-based APG. APG is one of the largest pension asset managers in the world with assets under management of approximately €240bn ($329bn). The Future Fund manages public pension funds for teachers and health workers in Australia.

Tom Dunn, Managing Partner of New Holland Capital, said: “The Standards play an important role in bringing about transparency and best practice among hedge fund managers.”

David Neal, CIO of the Future Fund, said: “We are very pleased to be represented and hope to see a growing number of managers embracing the Standards.”

The addition of BlueCrest and Winton bring the number of managers committed to the Hedge Fund Standards to 56, accounting for more than $215bn of assets under management. By comparison, the total AUM in European Hedge Funds was $350bn at end-June 2009, according to EuroHedge.

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