Cayman hedge funds governance is found wanting – Cayman Hedge Funds – October 2011

A survey of hedge fund allocators by fund governance service provider Carne found that 63 per cent were unhappy with the level of fund governance in the Cayman Islands.

Many of the respondents who said they were satisfied with fund governance in Cayman indicated in interviews that this was only the case because they carried out additional due diligence and continuous oversight themselves, the report “Corporate governance in hedge funds: Investor survey 2011” noted.

Commenting on the results John Ackerley, director of Carne Cayman, said “the report highlights the expectations of the investor community and we believe sends a clear message as to the prevailing attitudes of the institutional allocator.”

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