As most South African hedge funds now operate under CIS trust arrangements, similar to traditional unit trusts regulated under CISCA, the hedge fund manager is typically appointed by the hedge fund management company (Manco). The Manco also appoints other key service providers, such as brokers and auditors. The Manco, although adding costs, plays an important role in the governance, valuation and risk management of the hedge fund. Matthew Pykstra, Director and Head of Man Co, Alternative Asset Services atSanne Group, answers some key questions about what a Manco does.
