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What’s Wrong With Hedge Fund Boards — And Who is Trying to Fix Them

Recent surveys reveal investor discontent with hedge fund governance. Now, the Cayman Islands regulatory agency is doing something about it.

By Frances DenmarkIn 2009 investors in the London hedge fund firm Weavering Capital got a very unpleasant surprise. When they tried to cash out of the Weavering Macro Fixed Income Fund, domiciled in the Cayman Islands, they found out that their money simply wasn’t there. Instead, Weavering’s assets were tied

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