Will the extra expenditure and effort by regulated AIFMs on risk management prove to have been worth it when the next crash occurs? Do the increasingly large sums being spent on it by AIFMs, and by ManCo hosting platforms on behalf of the funds that they host, help investors or is this done mainly for compliance reasons?

There is no agreed concept of what is an appropriate level of risk oversight at AIFM level – over and above what is required by the regulators. But what regulators require is significant.

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As regular readers will know The NED has sought out information on the composition of 2,191 fund boards, across multiple jurisdictions, over the first half of the year. It was able to find details of the directors of approximately one quarter of these funds. The criteria selected above has been captured by The NED on these fund boards, as well as other information.

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