An Introduction to Hedge Funds

An Introduction to Hedge Funds

By: Mark Berman (author)Hardback

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Description

Hedge funds are one of the most dynamic, and important, players in the financial services industry and command worldwide attention. This primer, authored by a leading financial services industry participant, sets out the context of hedge funds and provides you with practical advice on how they operate. It begins by defining the characteristics and functions of a hedge fund, illustrating who is involved both internally and externally. It goes on to provide a step-by-step guide to setting up a hedge fund and discusses how unregulated hedge funds are regulated. It looks at hedge fund litigation and directs you to recommended resources. All of this is combined in a format that will enable you to grasp this important, complex subject relatively quickly.Aimed at newcomers to the hedge fund industry, this introductory text is particularly useful for: new hedge fund directors who have not previously served on a hedge fund board; investors seeking to learn about hedge funds; investment bankers that are transferring into a prime brokerage team; accountants responsible for hedge fund advisors; long-only fund managers that have been asked to co-manage a new long-short global equity hedge fund; and, anyone interested in understanding how a hedge fund works.

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About Author

Mark Berman, the founder and a Principal of CompliGlobe Ltd., advises hedge funds (including the Threadneedle Crescendo hedge funds), investment managers, multi-national banks and investment firms on cross-border regulatory, compliance and AML matters. He is the editor and contributor to Hedge Funds and Prime Brokers (Risk Books) and SEC Regulation outside the United States (Risk Books).He founded and chairs the annual conference, SEC Regulation outside the United States, held annually in London, Hong Kong and other locations in Europe and Asia. Berman was a senior lawyer with the Division of Corporation Finance and the Division of Market Regulation of the US Securities and Exchange Commission, where he worked on domestic and cross-border disclosure and trading practice issues, respectively.He was a senior lawyer with the London Stock Exchange where he advised on rule-making, market supervision, commercial and inter-exchange and -regulatory matters, advised the When Issued Trading and Short Selling working parties, drafted the 1994 re-write of the LSE's trading rules and negotiated the Exchange-Thomson-ISMA inter vendor link agreement. In nearly 15 years of industry experience, apart from his time as a regulator, he held positions as head of legal and compliance, compliance officer, MLRO and assistant company secretary, and chaired and served on new product committees.Mark writes articles, conducts training programmes on and speaks regularly at local, regional and global seminars on hedge fund developments and cross-border regulation. He is a Trustee of the SEC Historical Society and a member of the BSF Hall of Fame.

Contents

1. What is a hedge fund?2. Types and structures of hedge funds3. What's in an Articles of Association, a Limited Partnership Agreement or a Unit Trust Agreement?4. Setting up the hedge fund5. Hedge funds and their service providers6. How to read an Offering Memorandum7. How does one market shares or interests in a hedge fund?8. How does one operate a hedge fund?9. Key issues: valuations, corporate governance and changing or adding service providers10. What happens when something goes wrong?AppendicesCommonly asked questions when forming a hedge fundExample: Articles of AssociationExample: Limited Partnership AgreementExample: Prime Brokerage Agreement (European Model)Documents required to launch a hedge fundThe Regulatory Environment for Hedge Funds: A Survey and Comparison", IOSCO Report, November 2006"Principles for the Valuation of Hedge Fund Portfolios", IOSCO Technical Committee Consultation Report, March 2007

Product Details

  • publication date: 30/11/2007
  • ISBN13: 9781904339915
  • Format: Hardback
  • Number Of Pages: 250
  • ID: 9781904339915
  • ISBN10: 1904339913

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