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Mutual Funds
JOINT MANAGEMENT OF MUTUAL FUNDS AND HEDGE FUNDS
Overview
The SEC should regulate perceived conflict surrounding joint management of hedge funds and mutual funds. SIA opposes a complete ban on joint/side-by-side management of hedge funds and mutual funds.
Position:
SIA supports proposals to permit side-by-side management of mutual and hedge funds where enhanced disclosure of conflicts has been made and policies are in place to assure fair allocation of investment opportunities between funds. Language that limits such management to exceptional circumstances would effectively operate as a ban.
Status
Several bills would create a ban on side-by-side management, including H.R. 2420 (the Baker bill) S. 1971, (the Corzine/Dodd bill) and S. 2059, (the Fitzgerald bill).
