The Alternative Investment Management Association (AIMA) has finalised a set of voluntary guidelines on disclosure of risk terms and has sent it to Australian members and regulators for feedback, with a view to making the document public in a few weeks.
Chairman of AIMA, Kim Ivey, said the association had been working on the document for more than a year, and had spoken with regulators about it for the past couple of months. The voluntary guidelines aim to set best practice for members and will provide more clarity around some of the terms. “The document looks at how to disclose risk terms, and is an excellent step forward,” Ivey said. “We have been asking for feedback which we will encompass into the guidelines.” AIMA is also looking at more appropriate hedge fund risk measures, as Ivey said some traditional funds management risk measures failed to capture and explain the upper moments of hedge fund returns. AIMA has 60 members in its Australian chapter, and more than 1000 members globally. The guidelines on risk disclosure have also been sent to AIMA in London.
In most cases, the adage “time in the market beats timing the markets” would serve super funds which receive regular contributions and have long investment horizons well. But for the $37 billion closed-end State Super, which is in net asset outflow, time is one thing the fund does not have. CEO John Livanas outlines how State Super keeps volatility in check as the fund retreats from private assets.
Darcy SongMarch 27, 2025
