Investors will be looking for more transparancy by funds . Also less positions based on models as opposed a known price. Funds are not likely to survive without custodians and adminstrators

DE Shaw, one of the largest US hedge funds, plans to appoint independent administrators to provide third-party checks that its investments exist, in an effort to reassure investors panicked in the wake of the alleged $50bn Madoff fraud.
Fund plans third-party checks By James Mackintosh Published: March 1 2009 23:34 | Last updated: March 1 2009 23:34 DE Shaw, one of the largest US hedge funds, plans to appoint independent administr
DE Shaw, one of the largest US hedge funds, plans to appoint independent adminis...
Hedge Funds Try To Cope ; post madoff revelations and Investor Demand for Transparency
The Future Of Financial Markets Fund managers might take solace that they beat the Standard & Poor's 500, but comparing a multistrategy index like that to the S&P doesn't make a lot of sense. Th
Hedge Funds Try To Cope ; post madoff revelations and Investor Demand for Transp...
Make sure your Hedge fund has a custodian and administrator to avoid the next Madoff
How to Avoid Getting Burned by the Next Bernard Madoff By Laura Cohn Kiplinger's Personal Finance Sunday, January 4, 2009; Page F03 In light of Bernard Madoff's alleged Ponzi scheme, are you ta
Make sure your Hedge fund has a custodian and administrator to avoid the next Ma...
Swiss Bank UBP, After Big Hit, Takes U.S. Hedge Funds to Task-Demanding Independent Administrators
By CASSELL BRYAN-LOW Swiss bank Union Bancaire Privée, which faces hefty losses in the alleged Ponzi scheme run by money manager Bernard Madoff, is threatening to pull several billion dollars of in
Swiss Bank UBP, After Big Hit, Takes U.S. Hedge Funds to Task-Demanding Independ...