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December 6, 2004 12:12 PM

SEC: Hedge Fund Advisers Must Register


Excerpt: The Securities and Exchange Commission released its final rule requiring most hedge fund advisers to register with the agency, effective Feb. 1, 2006.


The Securities and Exchange Commission released its final rule requiring most hedge fund advisers to register with the agency, effective Feb. 1, 2006.

The 160-page rule, which was posted on the SEC's Web site www.sec.gov late last week, contains about 30 pages of dissent from Commissioners Paul Atkins and Cynthia Glassman.

The SEC is requiring more regulation of hedge funds as their impact on capital markets increases.

Hedge funds are pools of small groups of wealthy investors run by investment managers who normally take a hefty cut of the performance of the fund. Hedge funds also tend to be riskier than more traditional investment funds.

Hedge fund assets have grown to an estimated $1 trillion, and according to one estimate from the Hennessee Group, total assets under management have increased by 260 percent in the past five years.

In recent years many talented portfolio managers and analysts at mutual fund firms have jumped ship for lucrative positions at hedge funds.

An increasing number of smaller investors are moving into hedge funds, and they are no longer the exclusive turf of the very affluent. Recently many private and public pension funds have increased their investments in hedge funds.

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Read all 40 posts in the same category of Investment:

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Assessing What Will Now Happen to Fannie Mae - Dec 17, 2004
Brokerages Battle for 'Active Traders' - Dec 14, 2004
Taxable And Tax-Exempt Not So Different? - Dec 11, 2004
The Dollar Dilemma - Dec 08, 2004
Fear Itself - Dec 08, 2004
Wall St. Turns To The Time Out As Punishment - Dec 08, 2004
How To Profit On A Weak Dollar - Dec 08, 2004
Zhou Comments Boost Yuan Forwards - Dec 07, 2004
Should You Be Buying Gold? - Dec 06, 2004
Money Market Funds Reinflate Fees - Dec 06, 2004
The Tax Man May Take a Bite - Dec 05, 2004
China Pledges Stable Policies - Dec 05, 2004
The Insiders Are Selling. But Is That So Bad? - Dec 05, 2004
Fed President: Measured Hikes Ahead - Dec 03, 2004
Funds Take In $14 bln In October - Dec 02, 2004
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Why Consumers Hate Mergers - Dec 02, 2004
Nothing Ventured, Everything Gained - Dec 02, 2004
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