- International Monetary Fund. Monetary and Capital Markets Department
- Published Date:
- October 2004
Selected Topic From the IMF’s Global Financial Stability Report
Hedge Fund Industry: Developments and Practices
Todd Groome François Haas Oksana Khadarina William Lee
© 2004 International Monetary Fund
This paper was first published within Chapter II of the September 2004 Global Financial Stability Report (GFSR), a semiannual publication that assesses global financial market developments with the view to identifying potential systemic weaknesses.
The GFSR is prepared by the International Capital Markets Department (ICM), under the direction of the Counsellor and Director, Gerd Häusler. It is managed by an Editorial Committee comprising Hung Q. Tran (Chairman), W. Todd Groome, Jorge Roldos, and David J. Ordoobadi. This paper was written by ICM’s Financial Market Stability Division, including contributions from Renzo Avesani, Nicolas Blancher, Toni Gravelle, Todd Groome, François Haas, Oksana Khadarina, Yoon Sook Kim, William Lee, Kazunari Ohashi, Armineh Manookian-Salmasi, and Rupert Thorne. Cynthia Galang provided expert word processing assistance. Jeff Hayden of the External Relations Department edited the manuscript and coordinated production of the publication.
This paper draws, in part, on a series of informal discussions with commercial and investment banks, securities firms, asset management companies, hedge funds, insurance companies, pension funds, and credit rating agencies in Canada, France, Germany, Hong Kong SAR, Japan, the Netherlands, Switzerland, the United Kingdom, and the United States. The report reflects information available up to July 30.
The report has benefited from comments and suggestions from staff in other IMF departments, as well as from Executive Directors following their discussions of the Global Financial Stability Report on August 30, 2004. However, the analysis and policy considerations are those of the contributing staff and should not be attributed to the Executive Directors, their national authorities, or the IMF.