Overview

This is Module 2 of the Henley Executive Hedge Fund Program (HEHFP).  It discusses various ways that hedge funds can be structured and the considerations for picking a particular structure, including regulatory environments, tax regimes, licensing requirements and investor locations. It also covers the key activities necessary for establishing the infrastructure underpinning the fund’s operations.

Each module of the program includes five parts: Pre-reading, eCourse (together with the Presentation slides), Quiz and Post-reading materials that aims to help learners to have a full understanding of the topic.

This module is a 3-hour (approx. study time) course and is eligible for 1.5 SFC CPT/PWMA OPT hours.

Check out the other modules in the Program: 

• Module 1: Overview of the Hedge Funds Industry
• Module 3: Capital Raising & Investor Relations
• Module 4: Portfolio Management
• Module 5: Portfolio Risk Management
• Module 6: Markets and Trading
• Module 7: Prime Brokerage Services
• Module 8: Business Management & Fund Administration
• Module 9: Operations and Technology
• Module 10: Operational Risk Management & Operational Due Diligence
• Module 11: Legal
• Module 12: Ethics
• Module 13: Compliance
• Module 14: Fund Governance
• Module 15: Tax, Audit & Accounting
• Module 16: Human Resources
• Module 17: Pitchbook Formation

Objective

By the end of this module, you will be able to:
- Describe different structure of hedge funds
- List the key considerations for setting up hedge funds
- Describe the key activities in fund's operations

Content

Part 1 - Pre-reading materials
(i) Making It Big - AIMA & GPP
(ii) Helpful Definition

Part 2 - Presentation Slides of the eCourse

Part 3 – Structuring & Setup*
(i) Introduction
(ii) Section 1: So You Want to Set Up a Fund?
(iii) Section 2: Management Company Set-up Consideration
(iv) Section 3: Fund Set-up Consideration
(v) Section 4: Capital, Seeding and Platform
(vi) Section 5: The Set-up Project and Planning
(vii) Section 6: Concluding Remarks

Part 4 - Quiz*
The quiz consists of 15 questions where learners have 3 attempts to achieve at least 80% with correct answers as a pass.

Part 5 - Post-reading materials
(i) AIMA ISC Guide to institutional investors views and preferences regarding hedge fund operational infrastructures (May 2011)
(ii) Hedge Fund Start-Up Guide Bloomberg AIMA
(iii) AIMA Guide to Outsourcing for IMs 2019
(iv) The Fund of One - A Customized Solution for a Changing World - Citi Open Investor
(v) Cayman Islands Mutual Funds
(vi) List of recommended reading

* mandatory parts to complete

Who should attend

(1) Hedge Fund professionals seeking to enhance their knowledge
(2) Individuals looking to start a Hedge Fund
(3) Service providers e.g., Banking, Risk, Compliance and IT professionals, Lawyers, Fund Administrators