New York, 17 January 2012 —Ernst & Young, a leading global organization of service providers for start-up and established hedge funds, announced today that it is ranked as the top accounting/auditing provider in the first Hedge Funds Review Service Providers Rankings.
Hedge Funds Review conducted the poll, which shows how market professionals view their service providers in terms of overall quality and service, between October 4 and October 28, 2011. The poll comprised 23 categories, including accounting/auditing, fund administrator, prime services/broker and most favored domicile. More than 1,500 hedge funds, funds of hedge funds and investors responded to the survey. Respondents were a reflection of the global distribution of the hedge fund industry, with votes coming primarily from the US, UK, Switzerland, Hong Kong and Singapore. Nearly 70 percent of respondents were from single-manager hedge funds.
“It’s a proud distinction to be the top accounting/auditing provider on the first Hedge Funds Review Service Provider Rankings. This demonstrates Ernst & Young’s quality in serving hedge funds through every phase of their business,” said Art Tully, co-leader, Global Hedge Fund practice, Ernst & Young LLP. “It gives us great pleasure to be honored in an industry that we have served for over two decades.”
“We are thrilled to receive this recognition and will continue to strive to earn the respect of the global hedge fund industry through quality audit and tax services for many years to come,” said Mike Serota, co-leader, Global Hedge Fund practice, Ernst & Young LLP.
In addition to providing core audit and tax services, Ernst & Young firms also offer a wide range of specialty services that can help clients manage risk and improve their organization’s growth, tax efficiency and compliance. As one of the largest service provider organizations in the industry, the Hedge Fund practices of the global Ernst & Young network consist of dedicated professionals who serve the asset management industry across key financial centers in North America, South America, the Caribbean, Europe and Asia. Ernst & Young’s wide-ranging and diverse global clients employ all strategies – from long/short equity funds to the most complex global fixed income and derivatives funds as well as funds of funds.
Ernst & Young is a leader in serving the global financial services marketplace
Nearly 35,000 Ernst & Young financial services professionals around the world provide integrated assurance, tax, transaction and advisory services to our asset management, banking, capital markets and insurance clients. In the Americas, Ernst & Young is the only public accounting organization with a separate business unit dedicated to the financial services marketplace. Created in 2000, the Americas Financial Services Office practices today include more than 4,000 professionals at member firms in over 50 locations throughout the US, the Caribbean and Latin America.
Ernst & Young professionals in our financial services practices worldwide align with key global industry groups, including Ernst & Young’s Global Asset Management Center, Global Banking & Capital Markets Center, Global Insurance Center and Global Private Equity Center, which act as hubs for sharing industry-focused knowledge on current and emerging trends and regulations in order to help our clients address key issues. Our practitioners cover many disciplines and provide a well-rounded understanding of business issues and challenges, as well as integrated services to our clients.
With a global presence and industry-focused advice, Ernst & Young’s financial services professionals provide high-quality assurance, tax, transaction and advisory services, including operations, process improvement, risk and technology, to financial services companies worldwide.
It’s how Ernst & Young makes a difference.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 152,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.
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Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
This news release has been issued by Ernst & Young LLP, a US client-serving member firm of Ernst & Young Global Limited.