The Hedge Fund Standards Board (HFSB) has appointed Luke Ellis, CEO of Man Group, and Henry Kenner, CEO and founder of Arrowgrass Capital Partners, to its board.
The appointments come at a time when the HFSB is seeing global growth in the managers and institutional investors supporting the Hedge Fund Standards.
In 2016, 19 additional managers became signatories to the Standards. Also in 2016, six additional institutional investors overseeing USD220 billion in capital joined the HFSB Investor Chapter.
The HFSB is forming a working group on liquid alternatives. Given the growth in regulated alternative investment funds in the marketplace and among many of the HFSB signatories, the HFSB intends to explore standards of good practice applicable to liquid alternatives, against the backdrop of existing regulations and the Hedge Fund Standards.
Dame Amelia Fawcett, chairman of the HFSB, says: “We are thrilled to welcome Luke and Henry to the board and appreciate their willingness to serve as trustees. The HFSB will benefit greatly from their global expertise and perspectives as leading managers. Today the board has representatives from major investors and managers from the US, Canada, the UK, Hong Kong, Singapore and Australia, providing the HFSB with strong resources to understand and establish good practices in an increasingly diverse alternative investment industry.”
Ellis (pictured) says: “As one of the founders of the HFSB, Man Group is delighted to be at the forefront of the effort to strengthen our industry and increase the value we bring to investors. The HFSB has a unique role as a platform for bringing the industry together to solve issues and I look forward to working with the board on standards and guidance, particularly in areas which represent an expansion of focus, such as liquid alternatives.”
Kenner says: “Arrowgrass is a core supporter of the HFSB because we believe we have an obligation not only to build an institutional quality business, but also to contribute to the creation of an institutional quality industry. The HFSB is in a strong position to achieve that objective because of its ability to promote global collaboration between investors, managers and regulators. I’m pleased to join the board and contribute to this process and the HFSB’s mission.”