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US SEC on mission to reduce investors’ hedge fund fees

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The US Securities and Exchange Commission’s (SEC) drive to increase transparency and competition in the hedge fund industry is ultimately aimed at reducing the fees paid by investors, according to a report by Reuters.

The report quotes William Birdthistle, director of the Division of Investment Management at the SEC, as saying that increased competition and transparency will lead to lower fees and better liquidity arrangements, “with fees going down that will mean more money going to end investors.”

Birdthistle, who was speaking at a Managed Funds Association conference in London, referenced a new set of rules that the SEC initially proposed in February and then updated in August, which are aimed at improving the quality of disclosures it receives from large hedge funds about their investment strategies and leverage. No date for when the new regulations will be passed has been given but Birdthistle conformed that the aim is to “increase information” and “fairness” in the hedge fund industry.

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