Hong Kong hedge fund managers will be introduced to the esoteric world of specialist, US-style, operational due diligence with a one-day seminar late April and the possible opening of a full-time office in the Asia Pacific region.
Prism Alternative Investments, a New York-based specialist consulting firm which provides a hedge fund “platform” of approved managers for its big clients, will host a seminar at the W Hotel in Kowloon on April 29.
The firm’s founder, Lauri Martin, an operational due diligence expert, said she was hopeful that Prism would have a permanent presence in the region soon, to improve its own research capabilities.
Given recent trends among institutional investors in the wake of the global financial crisis, counterparty risk, alongside other risks, have taken on much greater importance. Martin says that operational due diligence is an important part of risk assessment which is often overlooked because of the costs involved. She believes Prism’s “platform” provides investors with a cost-effective way of performing this due diligence.
The Hong Kong event will encompass general due diligence requirements expected by big US institutions as well as specifics on matters such as custody and wire transfer control checks.
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