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Hedge Fund Code to Catch Willing and Unwilling
- Article from:
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Daily News
- Article date:
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July 4, 2008
- Author:
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Copyright informationCopyright 2008 Daily News. Provided by ProQuest LLC. (Hide copyright information)
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LONDON (Reuters) - Many of Europe's hedge funds will sign up to a
voluntary code of standards to appease institutional investors and
avoid punitive regulation, but even those that don't will be unable
to ignore it.
The standards on governance and disclosure, unveiled in October
by the Hedge Fund Working Group, comprising powerful hedge fund
managers including Brevan Howard Asset Management LLP and Man Group
plc, were devised to counter criticism that the industry was opaque,
secretive and destabilising the financial system. Take-up so far has
been slow, however, with only one other hedge fund having signed up
to the standards beyond the original 14 in the working party.
But with the ...