IOSCO published a Consultation Paper which examines the issues related to hedge funds valuation and administration. Funds of hedge funds appear to be the most common vehicle for the industry to promote retail investment into alternative strategy funds. Moreover, the regulation of funds of hedge funds has become a priority for a larger number of jurisdictions.
Among others, IOSCO is particularly interested in the information regarding the selection of the underlying funds and their related risks, and the due diligence and on-going monitoring process to be performed by the fund of hedge funds’ manager and more particularly the constitutive elements of this process.
Deadline for comments is 20 July 2007.
A Final Report on these issues will be published in due course.
Once it has identified the risks and the topics to be addressed, IOSCO will begin drafting standards in 2008.
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