Newsletter Apr 2008: Best Practices reports raise bar for US hedge funds

WASHINGTON – Efforts to raise standards among US hedge funds and bring the rapidly growing industry closer to the investment mainstream were ramped up in mid-April with the release of separate, but complementary sets of best practices from two blue-ribbon expert panels. Requested in September by the President’s Working Group on Financial Markets (PWG), chaired by the US Treasury, the two best practices reports are officially described as the “most comprehensive public-private effort to increase accountability” for asset managers and investors in the $2 trillion hedge fund industry.