Your SlideShare is downloading. ×
INDUSTRY VIEWS




Statement of Qualifications
European Hedge Funds*
“We work with you to determine what
advice and assistance you need from us.
Our approach is “menu” based. We do not
believ...
Contents




Introduction                                           03

Our commitment to the industry                    ...
“PricewaterhouseCoopers is the
pre-eminent firm serving the global
investment management community.
We bring a unique comb...
03                                       Introduction
                                         PricewaterhouseCoopers is t...
00
     “Our offices within Europe, the United
     States and offshore jurisdictions work
     regularly together to prov...
05   Our commitment to the industry
     In recognition of the continued explosive growth of the hedge
     fund industry ...
06   Our commitment to our clients
     Our philosophy is to help our clients attain their goals while
     using our cons...
07                                        We can bring significant value to our clients
                                  ...
08   “Developing creative but sustainable tax
     strategies is imperative in any business,
     but critical in the hedg...
09




professionals in providing a number      Part of every                             operations of the hedge fund
of ...
10




     fund-of-funds. Our approach               Our operational risk assessment
     complements the investor’s own ...
11                                      “Understanding valuation issues will not
                                        o...
12   “Using our industry knowledge and
     connections, we can help you decide
     whether now is the right time to purs...
13




 any areas which may require             Regulatory services                       the key hedge fund industry
 pos...
14




     provider of GIPS verification and        disruptions in business operations.
     consulting services to inves...
15                                       “Our procurement disciplines protect and
                                        ...
16   “We can turn your business risks into
     opportunities. Our teams determine
     the critical risks you face, devel...
www.pwc.com

The member firms of the PricewaterhouseCoopers network (www.pwc.com) provide industry-focused assurance, tax ...
Statement of Qualifications European Hedge Funds*
Upcoming SlideShare
Loading in...5
×

Statement of Qualifications European Hedge Funds*

391

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
391
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
5
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Transcript of "Statement of Qualifications European Hedge Funds*"

  1. 1. INDUSTRY VIEWS Statement of Qualifications European Hedge Funds*
  2. 2. “We work with you to determine what advice and assistance you need from us. Our approach is “menu” based. We do not believe in a “one size fits all” approach.”
  3. 3. Contents Introduction 03 Our commitment to the industry 05 Our commitment to our clients 06 Structuring and start-up expertise 06 Tax services 07 Legal services 08 Audit 09 Business advisory services 09 Controls review and attestation 11 Corporate finance services 11 Regulatory services 13 Investment performance measurement 13 Technology solutions 14 Risk management and controls solutions 15 Industry training and support 16 Contact details Inside back cover
  4. 4. “PricewaterhouseCoopers is the pre-eminent firm serving the global investment management community. We bring a unique combination of globally coordinated services managed by a team of experts in all the major investment management centres.”
  5. 5. 03 Introduction PricewaterhouseCoopers is the pre-eminent firm serving the global investment management community.We bring a unique combination of globally coordinated services managed by a team of experts in all the major investment management centres. Statistics confirm that we continue We are a leading authority on the tax Whatever your needs, to be the leading professional planning, regulatory and structuring PricewaterhouseCoopers has the services firm serving the investment issues associated with forming and resources to meet them – quickly management industry.* Such operating hedge funds as well as and efficiently. We would be leadership is a testimony to the other alternative investment delighted to discuss your business vision and dedication of our people. products. Our leadership position plans and professional service We began investing resources to has enabled us to develop a broad needs, in particular as they relate to serve the investment management and deep range of services within the hedge funds. industry over thirty years ago – hedge fund industry. We bring a well before the other international unique combination of globally Our European Hedge Funds Group professional services firms. coordinated business advisory and forms part of our Global Alternative consulting experience, accounting, Investment Management Industry Our clients include sponsors of both regulatory, systems and tax Group. A list of contacts in Europe traditional and alternative investment expertise, industry knowledge and and worldwide can be found on the management products. We serve established relationships with the separate contact sheet inside the as business advisers to investment major participants in this back cover. managers, distributors and other marketplace. sponsors of onshore and offshore portfolio products, structured In addition, in Europe, our vehicles and other alternative correspondent law firm, Landwell, investment products such as can assist you, if you so require, with commodity pools, fund of funds, addressing the legal issues involved real estate, collateralised debt in establishing a new investment obligations, private equity funds and management business in Europe, to venture capital funds. manage the portfolio of a European or offshore hedge fund, in setting up PricewaterhouseCoopers serves as the fund itself, and in marketing the independent accountants, tax and fund to investors. business advisers to over a thousand alternative investment funds globally, Working with ranging from start-up managers to PricewaterhouseCoopers, you will multi-national, multi-billion dollar be supported by a dedicated client alternative investment strategy service team. Our client service managers – many of whom maintain philosophy is built around a complex structures and employ multidisciplinary and internationally complex investing strategies. coordinated team focused on the hedge fund industry and on your organisation. *Source – Strategic Insights
  6. 6. 00 “Our offices within Europe, the United States and offshore jurisdictions work regularly together to provide a seamless global approach to address the issues and provide solutions to our hedge fund clients.”
  7. 7. 05 Our commitment to the industry In recognition of the continued explosive growth of the hedge fund industry in Europe, and its requirements for specialised due diligence, business advisory, accounting, tax, regulatory, legal, business process and systems consulting services, our firm has dedicated substantial resources and professionals to serve this industry. PricewaterhouseCoopers’ European A number of our professionals in Hedge Funds Group comprises Europe have participated in extended a dedicated team of audit, tax, international assignments to the consulting and legal professionals US and various offshore centres in offices around Europe. which have provided them with The Group combines experience and practical first-hand knowledge of the expertise in establishing investment international marketplace as well as management and securities an awareness of what other industry operations, advising on complex participants are doing. Our offices and structured financial instruments, within Europe, the United States and regulatory compliance programmes, offshore jurisdictions work regularly risk management processes, together to provide a seamless due diligence and tax planning. global approach to address the In providing services, our European issues and provide solutions to our Hedge Funds Group is in hedge fund clients. regular communication with our Global Alternative Investment Management Industry Group in the US and elsewhere. Our long-term commitment to the industry has afforded PricewaterhouseCoopers the opportunity to develop a group of experienced professionals – in London and Continental Europe, in the United States, in international financial centres and key offshore jurisdictions – who understand the critical success factors of the hedge fund industry.
  8. 8. 06 Our commitment to our clients Our philosophy is to help our clients attain their goals while using our considerable industry experience to add value through advising on market trends and industry best practice. The cornerstone of our service approach is to provide each client with a cohesive, multi-disciplined and multi-territory engagement team that has the right mix of talent and expertise to provide the most efficient and effective service possible. Supporting each core service team are specialists who will help you reach practical, well-informed solutions to those issues that are specific to your business and operations. Below is a description of the services we provide. Structuring and • Advising on possible ways in which you can partner with hedge start-up expertise fund incubators, providers of seed capital and other alliance partners You need professional advisers and achieve tax efficiency and who have extensive experience in maintain flexibility; advising organisations and individuals in structuring, establishing • Advising on initial human resources and operating hedge funds and issues, tax efficient remuneration related products. Our partners and packages and tax planning for the managers possess the practical investment adviser’s principals and experience as well as the technical senior executives; and expertise to provide responsive, timely and value-added advice to • Advising on inter-territory pricing. you as you grow. Regulation PricewaterhouseCoopers and its correspondent law firm, Landwell, • Advising on all aspects of provide a full range of services to applications for regulatory assist both emerging and institutional authorisation for the investment clients with the establishment of their adviser (e.g. FSA in the UK, CSSF funds and operations. in Luxembourg, CBI in Dublin) and advising on the compliance Our services are “menu” based, structure; enabling clients to select the services that will best achieve their objectives. • Identifying, documenting or Our menu of services includes: assessing regulatory compliance policies and procedures for Management entities registered advisers and commodity pool operators (including the new • Arranging for the incorporation of U.S. privacy regulations); and the new investment management entity (onshore and/or offshore) and • Assistance with drafting of the advice on all aspects of corporate compliance manual, compliance and partnership law; procedures and compliance monitoring programme. • Providing assistance in developing your business plan;
  9. 9. 07 We can bring significant value to our clients in the start-up phase, when they are establishing an independent advisory entity and related hedge fund products. Fund memorandum and investment • Providing assistance in determining management agreement(s) and your information technology needs • Providing assistance regarding the reviewing documentation provided and helping you implement the choice of an appropriate domicile by, for example, the prime broker technology, including supplier (whether in Europe or another and administrator; selection; and offshore jurisdiction and taking into account the impact of recent • Coordinating the listing of the • Reviewing, designing or FATF and other initiatives) and shares of the fund, if required (e.g. implementing risk management organisational structure to meet on Dublin, Luxembourg or Channel processes and operational your business objectives. Advice Islands Stock Exchanges); procedures, controls and systems. on structure includes umbrella, master/feeder, corporate, limited • Advising on the marketing of We can bring significant value to our partnership and other structures; the fund in all major European clients in the start-up phase, when jurisdictions, including design they are establishing an independent • Advising on all taxation matters, of wrapper or feeder funds, advisory entity and related hedge both with regard to the structuring to meet local tax and regulatory fund products or, in the case of a of the fund, the tax position requirements; global financial services organisation, of investors; when they are establishing or • Assisting with performance fee expanding an infrastructure to • Assisting in the selection of service structuring and associated support hedge and other alternative providers e.g. prime broker, fund accounting issues; and investment strategies. administrator, transfer agent, custodian, listing sponsor, etc.; • Designing a record-keeping and reporting process to accomplish Tax services • Coordinating the establishment your specific needs and objectives of the fund, liaising throughout and to meet the needs of Developing creative but sustainable with you and the selected demanding high-net-worth tax strategies is imperative in any service providers; and institutional investors business, but critical in the hedge (e.g. K1 tax forms). fund industry. To remain competitive • Assisting with the selection of and to manage risk and related legal advisers in the jurisdiction Back office and infrastructure rewards at the investor and adviser of the hedge fund and coordinating levels, solutions to tax issues are the incorporation of the fund • Leveraging our considerable essential. In order to reach the best with them; experiences with accounting solutions, investment managers need software and third-party an adviser that offers world-class tax • Creation of all documents administrators to assist you in resources and skills, based on necessary for the establishment building an appropriate back practical experience. and offering of the fund, for office infrastructure; example preparing the fund prospectus/private placement
  10. 10. 08 “Developing creative but sustainable tax strategies is imperative in any business, but critical in the hedge fund industry. To remain competitive and to manage risk and related rewards at the investor and adviser levels, solutions to tax issues are essential.” PricewaterhouseCoopers has control environment that will keep invested substantial resources to be you in compliance with the most a leading tax adviser to the hedge difficult aspects of taxation affecting fund industry. We are leaders in the industry and maximise the use of addressing the unique tax planning foreign tax credits and deferral and structuring issues associated mechanisms. We will also keep you with forming and operating up-to-date on tax developments in hedge funds. the hedge fund and alternative investment management industry, Our dedicated global tax through regular bulletins. professionals understand the local tax treatment of financial products in every major industrialised and Legal services emerging financial market around Landwell is the correspondent law the world. They are experienced in firm of PricewaterhouseCoopers. developing tax-advantaged cross-border structures and in As a member of the advising on local compliance PricewaterhouseCoopers network requirements. of law firms comprising over 2,400 lawyers based in some 40 countries, Our expertise supports a structuring Landwell are well placed to provide and planning process that advice in all jurisdictions relating to coordinates the complex interaction the establishment of funds and among a variety of local tax and fund management businesses and regulatory regimes. Our tax on the legal restrictions on marketing professionals will be closely involved hedge funds. with aspects of the initial structuring of the business and the funds, in Landwell have considerable ongoing tax compliance work, experience in advising both developing your remuneration and entrepreneurs and institutions on transfer pricing policies and with addressing the legal issues involved monitoring changes in the taxation in establishing funds and new universe surrounding the business. investment management businesses, We will advise on how to optimise and was one of the first law firms to the investment adviser’s tax position specialise in the hedge fund industry. while safeguarding the fund and investors’ position. We will work with Landwell would work together with you to create an effective internal PricewaterhouseCoopers’
  11. 11. 09 professionals in providing a number Part of every operations of the hedge fund of the services in structuring and PricewaterhouseCoopers’ audit business being acquired. establishing a hedge fund operation. is the business intelligence and added value that we offer to your Effective acquisition due diligence organisation as part of the audit also ensures that the purchaser fully Audit process. A high level of partner understands the drivers behind the involvement, the cross-territory revenue stream and profitability of The typical hedge fund structure interaction of our teams, the business and that areas are spans a number of territories and cutting-edge proprietary software, identified which may require costs involves an offshore manager, and more than 30 years in building to be incurred in performing an onshore investment adviser, and a the world’s largest professional post-deal rectification. fund administrator based in one of the offshore administration centres services practice for the international A comprehensive knowledge of such as Dublin. investment management industry, these matters and an assessment of enables us to offer you substantive their impact on the valuation of the PricewaterhouseCoopers can advice on how to address the business provides the acquirer with provide audit services to the funds challenges and opportunities valuable information to support and the various entities within the identified during your audit. downward negotiation of the management company structure. purchase consideration. The key to our approach is the existence of experts in all relevant Business advisory Using the wealth of specific hedge territories, the interaction between services fund expertise available within our various teams and the strength PricewaterhouseCoopers, we can of our global hedge fund network. Acquisition due diligence provide insight and views on the Our approach to the audit of the fund projected revenue performance of involves working with both the We can provide full financial, tax the target business. This is based administrator and those responsible and market due diligence services both on a detailed understanding of for operations at the investment to support a potential acquisition the market in which the hedge fund adviser; there is close coordination of a hedge fund manager, as well manager operates, as well as the between offshore and onshore audit as advice on deal structuring. competitive position of the target, its teams. Certain offshore domiciles The purpose of acquisition due products and its strategic plan. such as Cayman have introduced diligence is to ensure that the requirements for a local audit firm to acquirer fully understands the key Operational risk assessment for sign the financial statements of all risks in the business, the target, fund investors funds domiciled in that territory, and that it is buying, by assessing and our global approach ensures that this validating assumptions that underlie We are able to assist potential requirement can easily be met. a deal and giving the acquirer investors with their due diligence a coherent overview of the selection procedures of both single-manager funds and hedge
  12. 12. 10 fund-of-funds. Our approach Our operational risk assessment complements the investor’s own process involves a desktop review assessment of the portfolio and of information received from the performance risk associated with hedge fund manager in relation to the investment strategy of the fund. the target investee hedge fund, We focus on understanding and combined with on-site procedures assessing the operational risks and interviews. The output of this around the fund’s infrastructure, process is a report detailing the an area which is often overlooked identified risk areas and making by investors. recommendations for areas to be monitored as part of the investor’s Our experience of the hedge fund ongoing risk monitoring process. industry has taught us that an investment in a hedge fund carries General business advice most of the risks associated with investing in the hedge fund manager PricewaterhouseCoopers also itself, and that many hedge fund provides a full range of business failures are due to weaknesses advisory services for both large in the operational areas of the financial services organisations business. Our approach therefore and independent advisers operating centres on the risks inherent in the in the hedge fund industry. following areas: Our business advisory services team has assisted clients in making - the organisational structure and strategic assessments of the management of the business; hedge fund business, preparing full business plans and economic - the manager’s investment process analysis, advising on the structure and risk management controls; of both the investment adviser and/or - portfolio administration, operational general partner and the underlying controls and valuation procedures; fund structure, assessing the systems and operations needs, - marketing of the fund and investor selecting and integrating systems relations; and solutions, identifying and selecting outside vendors, and preparing - the fund structure and organisation, full documentation of policies including tax risks. and procedures for such business initiatives.
  13. 13. 11 “Understanding valuation issues will not only permit you to demand the best price but also allow you to set the agenda when developing the strategy of negotiating a purchase.” Controls review and accountants of whether the view to further developing the organisation’s controls operated business with an institutional partner. attestation as described during a defined period, usually at least six months, Acquisition services Pension funds and other and in the case of SAS70 whether institutional hedge fund investors Using our experience of the hedge the controls were suitably require evidence that their fund industry, we are uniquely placed designed to achieve the specified investment managers or custodians to provide a full range of services to control objectives. are managing their assets in support an acquisition of a hedge a secure and controlled manner. Reports on controls provide your fund manager, including: Similarly, administrators need to business with assurance that the demonstrate that the quality of their control environment is operating as - Strategic review/target search: control environment meets an intended and highlights areas for Using our industry knowledge and acceptable standard. improvements. Such reports also connections, we can help you provide comfort to investors or decide whether now is the right These requirements can be achieved time to pursue an acquisition, users of administrators, as well as by way of the production of a report assess the alternatives open to you promoting the organisation’s on your organisation’s controls under and perform market analysis to risk culture and demonstrating a the framework of the UK’s guidance identify and approach targets that controls focus. statement FRAG 21 “Reporting on meet your initial acquisition criteria. internal controls of investment custodians made available to third Corporate finance services - Valuation advice: parties” or the equivalent US Understanding valuation issues Auditing Standard SAS 70 Our Corporate finance services will not only permit you to demand “Service Organisations”. The group provides a comprehensive the best price but also allow you framework of both these standards range of corporate finance services to set the agenda when developing can easily be adapted to the controls to companies, financial investors and the strategy of negotiating a in place at a hedge fund manager, lenders to help them achieve their purchase. Using our knowledge hedge fund-of-funds manager ambitions and enhance shareholder of comparable transactions, or administrator. Such a report value. Many financial institutions are PricewaterhouseCoopers’ comprises a description by currently considering entering, specialised valuation experts will management of the control or expanding their presence in, ensure that you have the best objectives inherent in the control the hedge fund market via the information and arguments on your environment and the control acquisition of an existing hedge fund side of the table. procedures in place to meet or hedge fund-of-funds manager. these objectives. There is also a growing number of Integration hedge fund managers looking to sell This description is accompanied their businesses, whether to release There are unique risks associated by an attestation by independent value prior to retirement or with a with combining a hedge fund
  14. 14. 12 “Using our industry knowledge and connections, we can help you decide whether now is the right time to pursue a sale of the business and assess the alternatives open to you.” business with an existing long-only of services to support the sale of a business. There are also issues hedge fund manager, including: to be faced in integrating an owner-managed business into a - Strategic consulting: larger organisation. Using our Using our industry knowledge and experience on similar transactions connections, we can help you and building on our knowledge of the decide whether now is the right target obtained during the due time to pursue a sale of the diligence process, we can work with business and assess the you to address these issues, to alternatives open to you. We can identify opportunities for operational also perform market analysis to improvement and to quantify and identify potential purchasers that deliver business opportunities. meet your initial acquisition criteria. - Deal preparation: Sell-side services Based on our prior experience of Using our experience of advising hedge fund manager transactions, hedge fund managers in similar we can assist you in assembling transactions, we are also uniquely the financial, tax, regulatory, legal placed to assist hedge fund and other information that will be managers in readying themselves requested by a potential purchaser. for acquisition, and obtaining the - Information Memorandum and best price and most favourable terms vendor due diligence: from the acquirer. A vendor who is We can produce an Information fully prepared for a deal and Memorandum and, additionally, anticipates the due diligence a vendor due diligence report. requests of a potential acquirer, its lawyers, investigating accountants - Valuation advice: and investment bankers, can control Traditional techniques may not the sales process in a timely manner work for valuing a hedge fund and should be able to maximise manager. Our specialised valuation value on the transaction. This will experts can prepare a valuation of include producing a high quality your business based on the data-room with basic legal and forecast profitability of the business financial data, and commissioning and our experience of the valuation a quality Information Memorandum models which have been used in and a credible vendor due diligence similar hedge fund industry report. We can provide a full range transactions. We can also identify
  15. 15. 13 any areas which may require Regulatory services the key hedge fund industry post-deal rectification costs to be operational centres, who provide incurred by the purchaser, and The PricewaterhouseCoopers’ global assistance to the industry. which may be used by the Financial Services Regulatory purchaser to attempt to negotiate Consulting Group, a group of Regulatory areas of particular interest the purchase consideration professionals who support the to hedge fund managers are the FSA downwards, and can assist you in compliance activities of the industry, rules (if the adviser is based in the addressing such weaknesses. has extensive knowledge of and UK), CFTC and SEC regulations and experience with securities laws, rules NASD regulations (with regard to, Deal structuring, negotiation and and regulations administered in the for example, trading in “hot issues”), project management UK, Continental Europe, the U.S. the increased focus of worldwide and internationally. regulators on anti-money laundering Whether you are buying or selling controls, as well as local regulatory a hedge fund manager, We provide our hedge fund requirements of the countries in PricewaterhouseCoopers’ Corporate clients with advice and counsel which the funds are domiciled (for Finance professionals can assist and based on the actual requirements example, the GFSC in Guernsey). support you with: and current operating style of the regulatory community. Investment performance • structuring the transaction to maximise your value creation; this Our regulatory consultants measurement will include mechanisms and are predominantly either former structures to ensure that the buyer regulatory supervisors (e.g. FSA, Increasingly, investment managers retains the key personnel within the SEC, NASD) or veteran compliance need to be able to present acquired business upon terms officers of major financial investment performance that is acceptable to the seller; services firms. compliant with Global Investment Performance Standards (GIPS). • negotiation of the transaction to The experiences gained by these secure the best deal; and professionals provide them with an We have experienced professionals understanding not only of the rules dedicated to assisting clients with • high quality project management of implementation, compliance, and and regulations, but also of how the transaction – this significantly verification issues related to GIPS. such rules and regulations are being increases efficiency and allows you We stay abreast of current interpreted and enforced and the to reduce your time commitment to developments in the performance compliance problems that other the transaction, so that you can measurement industry and hedge fund managers have concentrate on continuing to run communicate any noteworthy events experienced. This group currently the business. to our clients on a timely basis. includes more than a hundred full-time professionals, located in all As a result of our experience and comprehensive services, PricewaterhouseCoopers is a leading
  16. 16. 14 provider of GIPS verification and disruptions in business operations. consulting services to investment Our services include: managers around the world. • process-based reviews of your disaster recovery planning and Technology solutions business resumption plans; Investors and regulators are • detailed assessments of how well demanding increased accountability, the objectives of availability, transparency and effective controls. reliability and data integrity are At the same time the hedge fund maintained within your IT industry’s rapid growth requires that environment; and firms develop new products and services, operate more cost • the planning and management of effectively, manage new distribution tests to confirm that your continuity channels and provide quality plans work in practice. information to investors – all in record time. Project management These wide-ranging demands are Periods of change, whether at critical to protecting your business start up or during later expansion and your market position and require or reorganisation, create huge appropriate use of technology, demands on management time, and proactive assessment and divert resource and attention away management of risks, security from performing the day-to-day of data and systems, and sound activities that are so essential to controls for business processes, growing your business. Failure to application systems and technical deliver effective change results in infrastructure. project investment write off, loss of competitiveness (or failure to comply Operational resilience and with regulations) and damage to disaster recovery management credibility. September 11th 2001 reminded us PricewaterhouseCoopers can all of the importance of recovery supplement your resources and planning to ensure the continued provide the specific project and operation and performance of your management skills and services to business in an emergency or disaster ensure successful delivery of your situation. Our specialists have helped projects and change initiatives. many clients plan for major
  17. 17. 15 “Our procurement disciplines protect and benefit your business through the assessment of vendors, their ability to provide continuing and effective support, their contracts and pricing.” Internet security and management internet systems, external services, hedge funds impact on your risks, outsourcing, shared services, fund performance and client service The increasing use of the internet or changes to your technical to varying degrees. for the exchange of information infrastructure. poses additional risk to the security, PricewaterhouseCoopers’ Global operation and reputation of hedge PricewaterhouseCoopers provides Risk Management Solutions (GRMS) fund managers. Our proven technical a rigorous approach to the selection group has a wealth of risk expertise enables us to provide process that enables informed management methods and tools at a wide range of services to help decision making, working with you to its fingertips, that can help your your business make safe and secure clarify your requirements and help business develop clear and use of the internet-based business determine the optimum solutions for controlled processes that make world, and avoid significant supporting your specific needs for effective use of resources, outages, delays in processing or products, channels, services, consistently satisfy your clients, embarrassing publicity. volumes, third party relationships, make appropriate use of technology locations, security and control. Our and manage and mitigate your PricewaterhouseCoopers assists procurement disciplines protect and risks successfully. hedge fund managers meet benefit your business through the international best practice standards assessment of vendors, their ability ORCA (Objectives, Risks, of security, privacy and data to provide continuing and effective Controls, Alignment) is protection. We can: support, their contracts and pricing. PricewaterhouseCoopers’ proven approach to risk management, • diagnose and test areas of data Once you have chosen your founded on the premise that risks and security risk; systems, we can help you ensure must be taken in the pursuit of that their implementation and opportunities. We can provide a • design, develop and implement operations are effective, secure, framework for understanding and privacy and security strategies; and controlled and robust. We can also defining risk and help instil, in every • advise on the development, provide independent assurance that individual in an organisation, an deployment and operation of adequate controls are in place and instinctive and consistent new infrastructures. operating as intended. consideration of risk and reward in day-to-day planning and the Technology models and controls achievement of strategic, business Risk management and and operational objectives. There is a plethora of systems and controls solutions technology becoming available for RiskPRiSMTM is a software tool that hedge funds and making the right Hedge fund businesses often operate enables the user to define, link and technology decisions is not easy. within complex and extended align organisation or business unit Your business can choose between networks – all the parties involved in objectives, risks, controls, actions in-house developments, bespoke the establishment, administration, and issues. The collaborative nature applications, software packages, trading, custody and monitoring of of the ORCA/RiskPRiSM approach
  18. 18. 16 “We can turn your business risks into opportunities. Our teams determine the critical risks you face, develop recommendations for reducing your business risk exposure and identify your opportunities for growth and expansion.” increases the likelihood of long-term - Sponsoring and speaking at risk management success. hedge fund industry seminars, for example, for several years GRMS can draw on a global network we have been one of the lead of 6,000 risk professionals. We work sponsors of the annual Global with organisations to develop and Alternative Investment maintain a competitive edge by Management (“GAIM”) conference managing business risk at a strategic in Geneva; and tactical level. - Issue of hedge fund technical We can turn your business risks into publications such as “Structural, opportunities. Our teams determine Tax, Accounting and Reporting the critical risks you face, develop Issues Affecting Investment recommendations for reducing your Partnerships”; business risk exposure and identify your opportunities for growth - Our Investment Management and expansion. Forum, which is a regular series of seminars on topical industry matters presented by Industry training PricewaterhouseCoopers’ experts and support and external speakers and which are regularly attended by members We provide training and support of the hedge fund community; and specific to the investment management industry as follows: - Our product PwC Inform, which is a ground-breaking web-based - Technical update seminars and solution to your UK financial other formalised training courses reporting needs and which allows run by our client training group, you to keep up to date with known as “Transform”, which has developments in UK financial proven experience in supporting reporting, research financial the development needs of reporting issues, and join in the individuals to meet the needs of debate on topical issues. the rapidly changing hedge fund industry;
  19. 19. www.pwc.com The member firms of the PricewaterhouseCoopers network (www.pwc.com) provide industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 130,000 people in 148 countries share their thinking, experience and solutions to develop fresh perspectives and practical advice. (Unless otherwise indicated, “PricewaterhouseCoopers” refers to PricewaterhouseCoopers LLP a limited liability partnership incorporated in England. PricewaterhouseCoopers LLP is a member firm of PricewaterhouseCoopers International Limited.) © 2006 PricewaterhouseCoopers LLP. All rights reserved. “PricewaterhouseCoopers” refers to PricewaterhouseCoopers LLP (a limited liability partnership in the United Kingdom) or, as the context requires, other member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity. Designed by Court Three 0606.

×