The London-based Alternative Investment Management Association (AIMA) has opened a South Africa Chapter with 21 founding member companies.

The Chairman of the new Chapter is Kevin Shames, Peregrine Incubator Management (Pty) Ltd. and the Treasurer/Secretary is Ian Hamilton, Global Fund Services (South Africa).

Shames said: "There has been a growing desire for increased understanding of alternative investments as well as enhancing existing relationships with the country's regulators. By becoming a part of AIMA's global network, the South African community is able to tap into a wealth of resources to assist in reaching the overall aims of AIMA as well as more specific educational and regulatory objectives in our country."

The member companies of the new SA Chapter are:

• ABSA CORPORATE AND MERCHANT BANK


• AMB ADVISORY SERVICES


• BRAIT SOUTH AFRICA LIMITED


• DECILLION FUND MANAGEMENT (PTY) LTD


• DEUTSCHE SECURITIES (PTY) LTD


• EDGE CAPITAL (PTY) LTD


• ERNST & YOUNG


• FIRST WORLD TRADER PTY LTD, GLOBAL TRADER 247


• FIRSTRAND BANK LIMITED


• FUTUREGROWTH ASSET MANAGEMENT


• GLOBAL FINANCIAL STRATEGIES


• GLOBAL FUND SERVICES (SOUTH AFRICA) (PTY) LTD


• GRYPHON ASSET MANAGEMENT (PTY) LTD


• M CUBED HOLDINGS LTD


• METROPOLITAN ASSET MANAGERS LIMITED


• NOVARE INVESTMENTS


• OLD MUTUAL ASSET MANAGERS (SOUTH AFRICA) (PTY) LTD


• PEREGRINE INCUBATOR MANAGEMENT (PTY) LTD


• RMB ASSET MANAGEMENT (PTY) LIMITED


• SONNENBERG HOFFMANN GALOMBIK


• WERKSMANS ATTORNEYS

Chapters of AIMA are 'mini-AIMAs', comprising their own elected Executive Committee and a formalised structure, unlike other national membership groups.

Christopher Fawcett, Chairman, AIMA, said: "We are very pleased to welcome this community to the membership of AIMA. We are looking forward to working with the AIMA South Africa Chapter to secure their objectives."

copyright hedgeweek 2003