Table o Contents
1. Creating and Managing a Hedge Fund Business 12
1.1 Creating a Hedge Fnd Management Bsiness 121.2 Managing a Bsiness 131.3 Management and Controls 131.3.1 Otsorcing 141.3.2 Segregation o Dties and Allocation o Tasks 15 1.4 Finance 151.4.1 Systems and Acconting Records 151.4.2 Reglatory Financial Resorces 15 1.5 Compliance 161.5.1 Compliance Fnction 161.5.2 Compliance Monitoring 171.5.3 Relationship with Reglator 17 1.6 Employees 171.6.1 Recritment 171.6.2 Training 18
2. Investment Process and Portolio Risk Management 20
2.1 Investment Process 202.1.1 Investment Strategy 202.1.2 Managing the Investment Process 202.1.3 Risk Parameters 212.1.4 Best Exection 222.1.5 Trade Allocation 222.1.6 Investment in Non-Listed Instrments 222.1.7 Codes o Market Condct 232.1.8 Indcements and Sot Commissions 232.1.9 Conicts o Interest 232.1.10 Personal Accont Dealing 24 2.2 Portolio Risk Management 242.2.1 Defned Process 242.2.2 Freqency o Review 252.2.3 Independence o Review 252.2.4 Market Risk 252.2.5 Leverage 262.2.6 Liqidity 262.2.7 Conterparty Exposres 26
SOuND PRACTICES FOR EuROPEAN HEDGE FuND MANAGERS
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SOuND PRACTICES FOR EuROPEAN HEDGE FuND MANAGERS
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