The Alternative Investment Management Association has expressed its satisfaction that the Consultation Report on the Principles for the Valuation of Hedge Fund Portfolios issued by the International Organisation of Securities Commissions has embraced the key issues raised by Aima's own recent guide to valuation practices.

The association's Guide to Sound Practices for Hedge Fund Valuation, published in March, issued 15 recommendations on governance, transparency, processes and pricing methodologies.

Aima has reiterated its view that given the nature of the subject and the significant progress already made by the industry, as well as the fact that 'no one size fits all', regulation in the area of valuation would neither be appropriate nor helpful.

Says director Emma Mugridge: 'The industry has worked diligently during the last four years to analyse valuation issues. Aima will continue to work closely alongside Iosco and other regulatory bodies worldwide on valuation and other issues as the hedge fund industry continues to evolve.'

Aima has more than 1,175 corporate members in 47 countries including managers of hedge funds and funds of hedge funds, prime brokers, legal and accounting practices and fund administrators. The associated is committed to developing industry skills and education standards and is a co-founder of the Chartered Alternative Investment Analyst designation, the first and so far only specialised educational standard for alternative investment specialists.


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