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UK hedge fund group supports US plans for registration scheme

Date: Wednesday, June 24, 2009
Author: City AM

A KEY hedge fund association has thrown its weight behind plans in the US to force the funds to be registered with regulators and disclose information to allow authorities to gauge the risk they pose to the economy.

The Alternative Investment Management Association (AIMA), which represents UK hedge funds, said it agrees funds whose sizes exceed a certain threshold should face regulatory controls.

The announcement underscores a key shift in policy for hedge funds, which have traditionally prided their independence and secrecy.

The funds have resisted any plans to force them to reveal their use of leverage, as they say they do not pose a direct threat to economic stability.