The board of Alternative Investment Strategies, the first fund of hedge funds to be listed on the London Stock Exchange, has announced the appointment of former Co-op investment manager Richard Hotchkis as a non-executive director and as a member of the audit committee.

Hotchkis has significant experience in the investment management industry following more than 30 years at the Co-operative Insurance Society, where he gained a deep knowledge of investment trusts and funds of hedge funds.

Since becoming resident in Guernsey in 2007, he has gained extensive board experience within the listed fund of hedge funds industry as a director of FRM Credit Alpha and Gottex Market Neutral Trust as well as various other Guernsey-registered companies.

'The directors consider that it is now an appropriate time to strengthen the board by increasing the number of non-executives,' says Alternative Investment Strategies chairman Nicholas Wilson.

'It is good market practice when maintaining an independent board to introduce new blood, and Richard's extensive experience both in the industry and as a board member makes him the perfect candidate for the position.'

Alternative Investment Strategies is managed by International Asset Management, one of Europe's longest-standing independent hedge fund portfolio managers. Founded in 1989, the firm has some USD3.3bn in assets under management.