Best Practices
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Industry best practices are skills that allow our community to be at its most successful.  By subscribing to standard industry disciplines and perspectives, you're ensuring that you are serving your clients at the highest business standards.  From our white papers and webinars developed by our Alternative Asset Manager Best Practices Committee to our Thought Leadership Dinners, CalALTs aims to be a guiding force in your success.


The resources below have been curated by the Best Practices Committee.

2019 Operational Insights in Alternative Funds


The paper focuses on: prioritizing corporate culture, institutional ODD Review, convergence of operations in alternative investments, developments in investment adviser advertising, co-investments, and evaluating trading and portfolio management solutions.


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Best Practices - Hedge Fund and Private Equity Operations


The private funds industry has developed significantly in operational sophistication over the past 10 years. Today, the investor wish list includes the existence of an independent administrator, an internal CFO, segregation of duties, employee background checks, centralized operations, documented policies and procedures, a fiscal budget, an internal CCO, an external regulatory consultant, a clean regulatory history, formal compliance training, a tested disaster recovery plan, a cyber security plan, and related staff training.


In terms of internal staffing, best practices call for:
  • a seasoned fund accountant to act as Chief Financial Officer
  • a securities lawyer or regulatory professional acting as Chief Compliance Officer
  • an experienced operations person with knowledge of settlement, reconciliation, and trade break issues, and
  • coverage for back office personnel when they are on vacation

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This webinar explores recent developments in insider trading laws. Mr. Hamilton’s presentation will cover:

  • An overview of insider trading laws
  • Recent Securities and Exchange Commission and Department of Justice insider trading cases
  • The important upcoming Supreme Court case Salman v. United States addressing the “personal benefit” requirement for tipper/tippee liability


Speakers: Joshua G. Hamilton, Partner, Paul Hastings LLP

Originally presented August 3, 2016

Note: This webinar posting is a sample only. Member log-in is required to access all past webinar recordings.

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As a benefit to our community, CalALTs hosts a series of invitational Thought Leadership Roundtable Dinners. These roundtables bring together asset managers and representatives from top service providers to discuss current issues affecting the alternative asset community in California and abroad. Our Thought Leadership Roundtable white papers provide a quick summary of the topics discussed and insights of our participants.


Cyber Security

On Thursday, January 15, 2015, CalALTs hosted a Thought Leadership Dinner on Cyber Security Compliance and Best Practices, featuring Craig Watanabe of Advisor Solutions Group.

Advisor Solutions Group provided a series of user awareness memos for CHFA members to help in developing safer cyber security practices.


Cyber Security for Employee’s Home Computers & Personal Devices – Home and small business computers are easy prey. Hackers may want to gain access to your financial accounts, or the target could be someone that you know that is a bigger target, and the hacker is using you as a conduit. Another common reason home and small business systems are attacked to gain control and use your computer (along with many others) in a coordinated cyber attack. 


Strong Passwords – One of the greatest threats to our clients and our firm is the risk of an electronic breach (getting hacked.) We will talk about two very simple but effective measures to reduce this risk by strengthening passwords. 


Identity Theft – Identity theft is a crime where the perpetrator wrongfully obtains and uses the victim’s personal data in a way that involves fraud, typically for personal gain. Some law-enforcement authorities have called identity theft the fastest growing crime in the country right now and approximately nine million Americans were victimized last year. 


Hacking & Malware – Information Security is an important priority at any company. This memo will address how to protect against hacking and malware.


Fraudulent Emails – A common and frequent fraud is being committed via hacked email accounts. If a client’s email account has been hacked the hacker may be able to see emails sent to and from your company. Mimicking the style and knowing key personal information the hacker could send a fraudulent email to your company attempting to steal assets in the form of a third-party wire transfer.


Public Wi-Fi – Public Wi-Fi such as free wireless at airports, hotels, and Starbucks is inherently dangerous and should be avoided if possible.

Alternative Investment (AI) Dictionary

Terms commonly used by professionals in the alternative investment community


Industry Information – Overview & Outlook

MFA Overview and FAQs


MFA Industry Research & Thought Leadership


MFA’s Basics of the Global Hedge Fund Industry


Hedge Fund Fundamentals


“What is a Hedge Fund?” (video)

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