The Alternative Investment Management Association and the Chartered Alternative Investment Analyst Association are on a mission to educate pension fund trustees about hedge funds.
To that end, they are issuing a series of papers produced in collaboration with a group of institutional investors with about $150 billion invested in hedge funds.
AIMA and the CAIA Association — an alternative investment education institution — plan to publish one paper each quarter through the first quarter of 2016 — making five papers in all, an AIMA spokesman said.
The first, “The way ahead: Helping trustees navigate the hedge fund sector,” published last month, found that investors in hedge funds have earned a combined $1.5 trillion after fees in the plast 10 years, and that about one in every four dollars managed by the global hedge fund industry is invested by public and private pension funds. That is equal to about $700 billion.
The effort's launch was marked at a reception at the U.K. Parliament.
The AIMA spokesman said the second paper will explore the role that hedge funds play across a growing institutional investor base. Subsequent papers will include an assessment of investors' views on governance and transparency; an examination of how leverage and liquidity are used by hedge funds; and an appraisal of the different types of hedge fund structures available to investors.
The first paper is available on AIMA's website, www.aima.org.
