Hedge Fund group 
opening in Cayman

The Hedge Fund Association has announced that it will launch a chapter in the Cayman Islands in response to demand from members of the Cayman Islands hedge fund industry.

The not-for-profit international interest group of hedge fund industry practitioners and investors, which aims to influence public policy and foster opportunities in the industry, recently also opened a European chapter.

The organisation named Peter M.O. Young, president and founder of Advanced Fund Administration, as president of the HFA’s Cayman chapter for 2011.

“I am honoured to have been named president of the HFA’s newest Chapter in the Cayman Islands,” Mr. Young said. “I am looking forward to spearheading the HFA’s many events and initiatives in the Cayman Islands as well as rallying the local industry to support the HFA in its ongoing advocacy efforts.”

Before he established Advanced Fund Administration in 2007, Mr. Young was the executive vice president and principal operating officer for Citi Hedge Fund Services (Cayman), formerly named BISYS, with responsibility for its Cayman Islands operation. Prior to its acquisition by BISYS, Mr. Young was the managing partner and CEO of Rothstein Kass & Company’s Cayman Islands office.

Mr. Young is a member of the American Institute of Certified Public Accountants, the American Accounting Association and the Cayman Islands Society of Professional Accountants. He is a Certified Public Accountant and holds a bachelor’s degree in accounting, a BBA degree in business administration, and a Certificate in Executive MBA.

David Friedland, president of the Hedge Fund Association and president of Magnum US Investments, said: “We are extremely pleased to establish a presence for the Hedge Fund Association in one of the most important hubs for offshore hedge funds.

“This long overdue expansion will allow us to better advocate and represent a much broader cross section of the alternative investment community when we speak up for the industry in Washington, in the media and beyond,” he added.

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