Bermuda Firm Unveils Hedge Fund Rating Service

November 16, 2005 ( - A hedge fund risk management firm based in Hamilton, Bermuda has released a new fund rating service based on a benchmark of operational quality.

A news release from Amber Partners Ltd., said its Amber review system produces due diligence reports on funds with information on fund structure and controls.   Funds which meet a benchmark of operational quality are awarded Amber Certified status.

According to the announcement, eleven funds have been Amber Certified to date, including funds managed by Bear Stearns Asset Management, CooperNeff Advisors, and Vega Asset Management.   These leading firms manage more than $10 billion of assets.

Amber’s industry reach also includes a user network of fund of funds, private banks, family offices and institutions that collectively have exposure to hedge funds in excess of $50 billion, the news release said.  

The company said Amber provides the solution to a major due diligence challenge: cost.   Investors may download a free due diligence report on each Amber Certified fund at , with a password provided by the fund manager.   “For many investors, operational due diligence has become time consuming and costly, which can often impede the investment process,” said Christopher Addy, Principal and Co-Founder of Amber.   “Amber Certifications enable all investors to access benchmark due diligence information, leading to more informed and, in many cases, more rapid investment decisions.”

Amber has developed a methodology to guide each stage of the certification process and each due diligence report is presented in Amber’s proprietary format, the announcement said.   This framework seeks to ensure that Amber Certifications are consistent and comparable, according to the company.