A closer look at the CFA Institute’s survey of “Integrity” shows HFs not as bad as reported

Jul 27th, 2009 | Filed under: Today's Post

trustHedge fund managers endured another public flogging last week with the release of the CFA’s annual “Financial Markets Integrity Index”.  The index is based on survey results from about 2,000 CFA Charterholders around the world.  Not surprisingly to some, hedge fund managers weren’t really highlighted for their “integrity”.  As the press release from the CFA Institute Centre for Financial Market Integrity trumpeted:

“U.S. CFA Charterholders’ Trust in Hedge Fund Managers and Corporate Boards in Decline, Reports 2009 CFA Institute Centre Financial Market Integrity Index”

But a closer look at the 2009 results and a comparison of those results to previous years will take the sting out of these numbers for the vast majority of CFA- (and CAIA-) card-carrying hedge fund managers who value integrity above all else.

The chart below from the report (available here) shows the perceptions of various groups on a scale of 1 (jerks with no integrity) to 5 (“integrity” is their middle name): More…


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  1. Tuesday links: an uneven playing field Abnormal Returns July 28th, 2009 12:52 pm :

    [...] The reputation of hedge fund managers ranks right up there with used car salesmen.  (All About Alpha) [...]

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