CFA body begins hedge-fund advocacy in Asia

Lee Kha-loon will spearhead the CFA Institute''s regional work on setting standards for the hedge fund industry.

The CFA Institute, which represents the global community of certified financial analysts, is establishing an advocacy centre in Hong Kong to cover the Asia-Pacific region, and among its first projects is to introduce standards to the hedge fund industry.

Kurt Schacht, New York-based managing director at the Institute, says scandals such as Enron in the United States have prompted calls from various parts of the industry for a group such as the Institute to comment and push for best practices, as it is considered independent.

As a result the organization, which administers the CFA exam around the world, is setting up a global advocacy capacity from its...

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