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IRC Press Release
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March 4, 2002
Five Members Join the IRC Steering Group
The Investor Risk Committee (IRC) of the International Association of Financial Engineers (IAFE) was created in 2000 to provide a forum to discuss the optimum level of disclosure between hedge funds and their investors. During this on-going process, findings on transparency and disclosure were released in 2000 and 2001 and the IRC has continued to work with European institutional investors, investment managers, and other professionals involved in the hedge fund business to find ways to better collect and represent this information. This initiative is widely supported by over 300 institutional investors and hedge funds around the world as well as by the Alternative Investment Management Association (AIMA), the global not-for-profit trade association for the hedge fund community.
2001 was a prolific year in which several IRC meetings in the US, UK and Continental Europe took place, with a wide representation of professionals from Europe´s largest players in the field. During 2002, the IRC plans to build on the excellent feedback received thus far through a number of follow-up meetings in Europe, the US and Asia.
Adding decisive momentum to this effort, the IRC is pleased to announce that Thijs Coenen, Head of Risk Management at ABP Investments, Philip Didio, Analyst, FRM Research, Leo Lueb, Manager, Alternative Investment Strategies at PGGM, Derek Doupe, Director, Alternative Investments at Frank Russell Capital, and Leslie Rahl, President at CMRA have agreed to join its Steering Group. Thijs, Philip, Leo, Derek and Leslie will add their considerable expertise to that of the current IRC Steering Group members.
Tanya Styblo Beder, Chair, IAFE, and co-Chair, IRC said: “We are delighted with the continued expansion of the IRC´s activities in the United States and Europe and welcome the new Steering Group Members.”
“The IRC’s on-going project on hedge fund disclosure and transparency is of great importance to the industry”, commented Hans-Willem van Tuyll, Chairman of the Alternative Investment Management Association (AIMA). “AIMA is very pleased to have been involved in this project since its inception and continues to offer every assistance in its further development, using its own extensive network throughout Europe and Asia.”
Thijs Coenen, Head of Risk Management, ABP Investments, said: “We feel privileged to be invited to participate in the Steering Group of IRC. As an investor in hedge funds, ABP is very much aware of the importance of developing “risk transparency” standards for hedge funds without compromising investment performance. The key to hedge fund risk factors is that they can be aggregated across an investor’s entire portfolio. We look forward to contributing to this and other issues that are key to the further professionalization of the hedge fund investment industry.”
Giovanni Beliossi, European co-ordinator, IRC Steering Group said: “The inclusion in the Steering Group of such senior, experienced professionals like Derek, Leo and Thijs will greatly help the IRC to focus on what is necessary and appropriate in terms of transparency and disclosure for large European investors. These investors are increasingly turning to hedge funds and are at various points in their investment process: from initial exploration to active investment in this asset class. “
Philip Didio commented ´My participation in the IRC reflects respect for its quality and objectives. I believe that effective collection and aggregation of risk exposures benefits from a well-conceived classification system.´
For further information, please visit the IAFE website on www.iafe.org. |
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