AIMA, in conjunction with the Dublin Funds Industry Association (DFIA), has released the Guide to Sound Practices for Hedge Fund Administrators. This joint initiative, created by industry practitioners, is not specific to any one jurisdiction and provides all interested parties with a meaningful outline of the administrator’s role in regard to hedge funds.
Among the topics included in the guide are:
- Start-up Phase: Liaising with Lawyers, Prospectus Review, Negotiating Agreements, Service Level Agreements
- Interaction with Investors: Investor Services and Reporting, Anti-money Laundering, Equalization
- NAV Calculation: Trade Capture, Security Pricing, Reconciliations, Expense Calculation, NAV Calculation and Reporting
- Completing the Service: Custody Services, Banking and FX Services, US Tax Services, Financial Statements, Technology
- Support & Review: Relationship Management, Monitoring of the Restrictions placed on the Fund’s Activity, Company Secretary, Directors, Management Companies/General Partners
The Guide is free to all interested parties and is available at www.aima.org/uploads/GuidetoSPforHFAdmin.pdf .