Mirabaud signs up to hedge fund standard setting body
Genevan asset managers Mirabaud have joined standard setting body the Hedge Funds Standards Board, adding to the weight of investors tackling substandard fund governance, which appeared during the credit crunch.
The $25bn Swiss group is the forty-third investor in hedge funds to sign up. In total, allocators to, and managers of, about $215bn in hedge funds are signatories to the HFSB.
It resulted from an initiative in 2007 to tackle concern over issues such as transparency, risk management and governance in the industry during the crunch.
Since then, 51 hedge fund managers have joined, and a further five are seeking membership.
Some 43 investors have joined. Mirabaud joined the HFSB’s investor chapter two weeks ago.
Lionel Aeschlimann, managing partner of Mirabaud and head of asset management within the group, said: “Mirabaud is showing its desire to play a full and active role in promoting integrity and good governance in alternative investment management. It is a commitment towards openness and transparency in line with market best practice.”
Mirabaud has North American, European, Asian and global funds of hedge funds oriented according to defined strategies, mainly covering long/short equity, global macro, event-driven and CTA styles. Mirabaud also offers dedicated mandates, and a Ucits III fund of funds called Prosper – Mirabaud Multi Manager, which holds €130m.
The most recent other investors to join the HFSB are Columbia Investment Management Company, HR Strategies Inc, New Holland Capital, Persistent Asset Management, Rock Creek Group, Stenham Advisors and West Midlands Pension fund.