Hedge fund managers don’t like to tip their hands. Letters to investors are often put off for as long as possible so that they reveal what positions were instead of what they are right now, and even then they will often just outline long equity positions instead of explaining all of the fund’s investments. Tactically this makes sense, but hedge fund managers need to anticipate changing regulatory standards and client expectations with better communication. Standardizing hedge fund communications “Hedge fund managers currently provide investors with performance data, investor letters and risk reports. However, the frequency of and detail in the…