An ASIC report notes the boom in demand for this asset, saying it heightens the need for “better-quality data” about the size of this sector where estimates range between $1.8 billion and $188 billion.
CPA Australia has weighed into the debate about the cost to oversee the industry, adding its voice to those who argue the fee structure favours the larger funds.
… and PRI links with AIMA for due diligence questionnaire
In a first for sustainability, the UN-backed PRI organisation has linked with the Alternative Investment Management Association to launch next week an international standard questionnaire to aid investors doing their due diligence on alternatives managers.
The launch of the standard questionnaire, taking place in London on May 11, aims to: “Improve transparency around ESG factors in the decision-making process, reduce the reporting burden, and enhance consistency and comparability of data across the industry,” organisers say.
The launch will be presided over by Marisol Hernandez, manager, investment practices, PRI. The chief executive of PRI, which has a strong Australian membership base among not-for-profit funds and funds managers, is Australian Fiona Reynolds, a former chief executive of AIST.
AIMA, which also has an active Australian membership, provides members and their prospective clients with a standard due diligence questionnaire already. But the new one includes various questions which are not normally asked of hedge funds and other alternatives managers to cater for the increasing investor interest in ESG issues.
The annual AIMA Australia Forum will take place on September 12 at the Sofitel Wentworth Sydney. More than 400 investment professionals and service providers are expected to attend. It is the largest event of its kind in Australasia.
Note: Investor Strategy News is a media partner for the AIMA Australia Forum.
