The Alternative Investment Management Association ("AIMA") announced on Tuesday, Feb. 24, it supported full transparency and disclosure of systematically significant holdings and risk exposure. AIMA Chief Executive Andrew Baker said AIMA "can see which way the wind is blowing and [wants] to exercise leadership."
AIMA, which represents more than 75 percent of hedge fund assets worldwide, announced the position as part of its new policy platform. The platform also includes supporting disclosure of aggregate short positions, new policies to reduce settlement failure, a global manager supervision model based on the FSA's, and unified global standards for the hedge fund industry based on those previously proposed by AIMA and other groups such as the Hedge Fund Standards Board and the U.S. President's Working Group on Financial Markets.
Full Story: Hedge Body Backs Formal Disclosure to Regulators, Reuters (Feb. 24, 2009)
Press Release: AIMA Announces New Policy Platform (Feb. 24, 2009)