AIMA Journal – The Global Forum for the Global Alternative Investment Management Industry

Source: AIMA Journal First Quarter 2012

AIMAAddress from the Chief Executive Officer¸ Andrew Baker – In defence of hedge funds: institutional investors are giving a vote of confidence

The latest hedge fund performance figures show the average fund was down nearly 5 per cent in 2011¸ and have prompted some to say: “The hedge fund model is  broken”.  It is worth noting that global shares¸ according to the MSCI All-Country World Index¸ were down 9.4 per cent in 2011¸ but nobody is arguing that the  joint-stock company model is broken. And no-one would argue that the mutual fund model was broken¸ either¸ after one bad year.  2011 was a bad year for the global hedge fund industry¸ but many managers and strategies did well in very difficult circumstances.  It was also not so much a bad year¸ as a bad third quarter. The industry was down 7 per cent in the third quarter¸ when the EU sovereign debt crisis was raging¸ but up for the rest of the year.  It is worth putting 2011 in context as one of three down years in the last 20 for the global hedge fund industry. During 1999-2010¸ the major hedge fund indices averaged overall returns (after fees) of more than 8 per cent per annum.  Read more

Find out more about:

  • HOW DO THE PROPOSED FATCA REGULATIONS IMPACT ALTERNATIVE INVESTMENT MANAGERS? BY OSCAR TEUNISSEN¸ REBECCA E. LEE¸ DOMINICK DELL’IMPERIO¸ STEVE NAUHEIM AND REBECCA MCGERTY¸ PWC
  • TAKING THE BEST ROUTE OFFSHORE¸ BY INGRID PIERCE¸ PARTNER¸ WALKERS
  • SFC GETS TOUGH ON TAKEOVERS CODE DISCLOSURES¸BY GREG HEATON¸ PARTNER¸ DEACONS
  • A YEAR OF OPPORTUNITY¸BY ADAM WALLACE¸ HEAD OF ALTERNATIVE INVESTMENT SERVICES¸ ASIA PACIFIC¸ JP MORGAN WORLDWIDE SECURITIES SERVICES
  • THE UK REPORTING FUND REGIME¸BY TIM LEVETT¸ CONSULTANT¸ AND MARIE BARBER¸ MEMBER¸ KINETIC PARTNERS LLP
  • IRISH CHINA A FUNDS — SOME KEY ELEMENTS TO CONSIDER¸BY STEPHEN CARTY¸ PARTNER¸ MAPLES AND CALDER (DUBLIN OFFICE)
  • THE TOP FIVE THINGS EVERY BUYSIDE FIRM SHOULD KNOW ABOUT RECOVERY AND RESOLUTION PLANS¸ BY MICHAEL BEATON¸ MANAGING DIRECTOR¸ DOCUMENT RISK SOLUTIONS LTD
  • EMERGING HEDGE FUND MANAGERS: BRIGHTER OUTLOOK FOR 2012¸BY JOHN MCCANN¸ MANAGING DIRECTOR OF TRINITY FUND ADMINISTRATION LIMITED
  • FX OPTIONS UPDATE¸BY CME GROUP
  • AIMA SPONSORING MEMBERS & GLOBAL PARTNERS¸
  • NEW MEMBERS¸ MEMBERS OF AIMA WHO JOINED DURING Q4 2011

and

  • AIMA NEWS – UPDATED PRIME BROKER DUE DILIGENCE QUESTIONNAIRE AND GUIDE TO SOUND PRACTICES / NEW AIMA WEBSITE LAUNCHED / AIMA SINGAPORE MANAGER / AIMA TAX SECONDMENTS
  • GOVERNMENT AND REGULATORY AFFAIRS -COMPLETE ROUND-UP OF RECENT REGULATORY AND POLICY NEWS / ALL RECENT AIMA REGULATORY RESPONSES
  • PRESS COVERAGE OF AIMA- KEY PRESS COVERAGE OF AIMA AND THE INDUSTRY
  • ASSOCIATION NEWS -UPDATES FROM THE REGULATORY COMPLIANCE ASSOCIATION