No more nightmares for hedge fund advisers. The Alternative Investment Management Association (Aima) has announced global guidelines for fund-of-hedge-fund managers.
"Global guidelines mean a level playing field for big players. Our clients tell us this is important," said Thiha Tun, corporate partner at Herbert Smith. "Large hedge funds don't want separate rules in the UK, US and Asia. It is a compliance nightmare – they are launching global products after all."
The guide...