Martin Cornish and Edward Black Author Article in Alternatives on Hedge Fund Standards

Martin Cornish, the firm’s Managing Partner, and Edward Black, a special counsel in the Financial Services Practice, authored an article in Alternatives on the Hedge Fund Working Group’s Final Report and Standards. In particular, Standard 1 addresses whether hedge fund managers provide sufficient information to investors on policies and strategies. The article explains that “without an understanding of a fund’s investment objectives and strategies pre-investment due diligence is impractical and there is no objective basis for monitoring investments.” The authors note that while the Standards recognise the importance of proprietary trade secrets and the need for different levels of disclosure, they also emphasise that general details should be provided to investors. (“Provision of information to investors about investment policies and strategies,” June/July 2008)