Chapter's founders manage over USD 180 billion in assets

Kuwait, December 18, 2010 -  KCIC and a group of 29 other investment firms from around the globe have come together to provide input and have a key role in widening adoption of the standards among hedge funds managers internationally through the newly launched Investor Chapter at Hedge Fund Standards Board (HFSB).

The launch of the Investor Chapter aims to significantly strengthen the role and influence of investors in its standard-setting process. As a member, KCIC will have the opportunity to work with its peers from around the globe on widening the adoption of hedge fund standards among managers internationally.

HFSB Chairman, Antonio Borges said: "The new Investor Chapter will give a significant boost to our efforts to drive adoption of the Standards around the world. Institutional investors are the main beneficiaries of the Standards; they are also in the best position to persuade managers to sign up to them. We are delighted that so many leading institutions are joining us in this process."

HFSB is a guardian of the Hedge Fund Standards drawn by international investors and hedge fund managers, addressing key issues relating to hedge fund practice, covering the areas of Disclosure, Valuation, Risk Management, Fund Governance and Shareholders Conduct by driving The Hedge Fund Standards.

In addition to KCIC (Kuwait), Utah Retirement Systems (US), Railpen and the BT Pension Scheme (UK), APG (Netherlands), Caisse de Depot du Quebec (Canada), PP Pension (Sweden), Pictet (Switzerland), AXA (France) and Government of Singapore Investment Corporation are among the 30 initial members. They include many of the biggest global investors in hedge funds, accounting in total for hedge fund assets of about US$180 billion.

The role of the Investor Chapter includes the following:

  • Gives investors a stronger voice through the well-established HFSB mechanism

  • Provides a formal platform for them to interact with the HFSB Board of Trustees

  • Facilitates interaction among investors

  • Supports and facilitates a more efficient dialogue between investors and hedge fund managers

  • Promotes the Hedge Fund Standards and encourages hedge fund managers to achieve conformity

  • Allows investors to demonstrate their commitment to better practices before their stakeholders

  • Members of the new HFSB Investor Chapter from Europe, Asia and North America are:

  • APG Asset Management

  • Aurum Research Ltd

  • Axa Investment Managers

  • BT Pension Scheme Management

  • Caisse de dépôt et placement du Québec

  • Champalimaud Foundation

  • Corbin Capital Partners

  • Fauchier Partners LLP

  • FFC Capital Corporation

  • Fullerton Fund Management

  • Future Fund Australia

  • FRM

  • Government of Singapore Investment Corporation

  • Harcourt Investment Consulting

  • Hermes BPK Partners

  • KCIC

  • Liongate Capital Management

  • PAAMCO

  • Penjing Asset Management

  • PP Pension (Sweden)

  • Permal Group

  • Pictet Alternative Investments

  • Railpen Pension Investments

  • Russell Investments

  • SAIL Advisors Ltd

  • Schroders NewFinance Capital

  • Strathmore Capital

  • Unigestion

  • Union Bancaire Privée Asset Management

  • Utah Retirement Systems

KCIC was founded in 2005 with a capital of KD 80 million by an Emiree Decree with a mandate to develop investment opportunities in Asia towards building an Asia focused asset management company.  The public company employs a team of specialists in markets in Asia and currently manages assets in excess of US$450 million.  Key shareholders include the Kuwait Investment Authority, the Sovereign Wealth Fund of Kuwait, National Investment Company, one of the leading investment banks in the Middle East, and Al Ghanim Industries, one of the largest conglomerates in the Middle East.

-Ends-

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Fawaz Al-Sirri
Bensirri PR
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fawaz@bensirri.com

© Press Release 2010