BlackRock is among the first hedge fund managers to agree to abide by the industry’s voluntary code of conduct, according to The Financial Times.
Ten funds have joined the 14 founders of the Hedge Fund Standards Board, set up by Europe’s biggest managers to improve standards and avoid compulsory regulation of the industry.
“At a time when the activities of hedge funds are under such intense scrutiny, it is more important than ever that the industry demonstrates it is living up to its responsibilities by adhering to the best practice standards,” says Antonio Borges, chairman of the HFSB.