Are you interested in how other firms make expense allocation decisions? Ever wonder what controls other private fund managers have implemented relating to the receipt of material non-public information? Are you curious as to what controls other private fund managers have implemented to safeguard client assets?
If these questions interest you, ACA Compliance Group invites you to participate in our new ACA Alternative Fund Manager Survey. This is the eleventh survey of our ongoing series and is focused on transactions and counterparties, valuation, and conflicts of interest of hedge fund and illiquid fund (e.g., private equity, real estate, venture, infrastructure) managers. During ACA’s last iteration of this survey series in April 2018, we received 280 responses. As with the previous assessments, at the conclusion of this survey, ACA will host a free webcast solely for participants. During this event, our consultants will discuss the survey results and provide best practice tips based on our expert analysis of the information collected.
ACA has designed its alternative fund manager surveys to explore and explicate the unique, complex issues faced by hedge fund, and illiquid fund compliance professionals. Our current survey covers these important topics:
- Fees and Expenses – Here the survey concentrates on the types of expenses charged to private funds, the income received by fund managers and any associated management fee offsets, the controls, policies, and procedures related to fund expenses, and policies and procedures related to the calculation and deduction of management and incentive fees.
- Controls Related to the Receipt of Material Nonpublic Information – In this area, the survey focuses on information barriers, restricted lists, interactions with industry experts and consultants, corporate access, and training.
- Custody and Safekeeping of Client Assets – This segment centers on compliance with the GAAP audit requirement for private funds and any SPV or co-investment vehicles, and capital control and reconciliation best practices.
Your participation in our survey will have multiple benefits. Our past respondents have said that answering the questions alone gave them valuable insight into how to apply various best practices to their compliance programs. In addition, the aggregate survey data will benefit everyone by providing up-to-date benchmarks for compliance controls and testing practices specific to the alternative fund management industry. This information will be useful for periodic and annual reviews. The results may also assist firms in assessing existing and potential regulatory requirement impacts on their businesses.
Important Information About the Current Survey
As mentioned above, after the survey closes, ACA will discuss the results in a free webcast for survey participants. This event will take place on October 11, 2018. Participants will be redirected to register for the webcast upon completion of the survey. In order to receive complimentary access, please be sure to complete the registration before exiting the survey.
The survey takes approximately 30 minutes to complete. Partially completed responses cannot be saved, so please plan to answer all questions in one sitting.
The survey is open to compliance professionals at hedge fund and illiquid fund managers until September 24, 2018. We ask that only one person per firm participate. If you are not your firm's chief compliance officer, please check with him or her before taking the survey to avoid duplicate responses.
ACA conducts its surveys in a "blind" manner where all respondents remain anonymous. You will not be asked to identify yourself or your firm at any point during the survey. Responses may be shared with third parties at our discretion; however, they will remain anonymous and will not be attributed to the respondent.
For More Information
Should any technical questions arise regarding the survey, please contact Albert Abaunza at (973) 631-1085.