Two of the world's largest institutional investors have thrown their weight behind the Hedge Fund Standards Board, a voluntary association set up two years ago to promote best practice among alternative fund managers.

The board has increased its trustee group by adding representatives of the Future Fund, one of the largest public pension schemes in Australia, which aims to hold Au$140bn (€90bn) by 2020, and New Holland Capital, the hedge fund investment business that manages money exclusively for Dutch operation APG - the firm responsible for the asset management of ABP, the Netherlands Civil Pension Fund that holds €240bn ($330bn) of assets.