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Friend of the firm, Judy Gross has been actively following the Presidential Working Group report on hedge funds and investors.  A hedge fund compliance consultant withe experience working with alternative investment products of all shapes and sizes, Judy came up with the idea of doing a web-based diagnostic for hedge fund managers to determine how they fair against the recommendations of the PWG report.

 

We recommend the diagnostic to any manager that does not have 3-4 hours to spend reading the report and then spend the time assessing their own fund’s adherence to the recommendations.

 

Hedge Connection members receive a discount – mention HC001 at registration.

 

http://www.jgadvisory.com/PWG_TechCheck.php

 

January 20, 2009

 

JG ADVISORY SERVICES ANNOUNCES PWG TECHCHECK©; ONLINE BEST PRACTICES ASSESSMENT TOOL FOR HEDGE FUNDS BASED ON THE PRESIDENT’S WORKING GROUP REPORT

 

JG Advisory Services LLC announced today the availability of its online, self-assessment checklist based on the Report of the Asset Managers’ Committee to the President’s Working Group (PWG) on Financial Markets released on January 16, 2009.  The Asset Managers’ Committee is composed of 10 institutional alternative asset managers who have called on hedge funds to adopt comprehensive best practices.  The President’s Working Group includes the Secretary of the Treasury, the Chairman of the Board of Governors of the Federal Reserve System, the Chairman of the SEC, and the Chairman of the CFTC (or their designees).

 

 JG Advisory Services’ PWG TechCheck© is a unique online product:  it allows hedge fund managers to measure their degree of compliance with all five areas of the Report and produce their own final summary report which can be used as an internal compliance or marketing tool.  Its intuitive format takes users through all five areas that the PWG Report addresses:  Disclosure and Investor Protection; Valuation; Risk Management; Trading and Business Operations; and, Compliance, Conflicts and Business Practices.

 

 

Target users for the PWG TechCheck include:

-hedge fund groups’ compliance, legal and/or marketing divisions: as a self-assessment compliance tool, and to demonstrate compliance to investors;

-investors and fund-of-funds:  to assess the degree of compliance in their hedge fund investments;

-industry consultants: as a tool for evaluating clients.

 

 

In light of the many negative market developments, including the Madoff scandal and the sharp downturn in market returns, the importance of investor’s being certain that their hedge fund adheres to best practices has increased significantly.   In this regard, PWG TechCheck also includes a comparative data feature, to allow users to see how their manager’s responses compare to other similarly-situated managers.

 

 

JG Advisory Services is a leader in technology solutions for hedge fund compliance.  Founded in 2005 by Judith Gross, an attorney with extensive experience on Wall Street and with hedge funds, the firm acts as consultant to a variety of hedge fund and industry service providers.

Judith Gross         917 375-6852

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