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Alternative Market Briefing

Hedge fund managers must identify their uniqueness now that they can advertise

Thursday, July 11, 2013

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Mark Macias
Benedicte Gravrand, Opalesque Geneva:

Now that SEC has lifted the ban on solicitation and advertising, hedge fund managers, who are at a disadvantage since most lack a marketing structure and a strong online presence, need to identify what is unique about their portfolio if they want to be seen by potential investors, a marketing strategist told Opalesque.

Yesterday, the U.S. Securities and Exchange Commission voted to lift a ban on general solicitation and general advertising found in the Securities Act of 1933, and its rules and regulations about certain private issuers including private investment funds and start-up companies.

"In removing these solicitation and advertising restrictions, the SEC fulfilled its obligation under the Jumpstart Our Business Startups Act (JOBS Act), which instructed the SEC to eliminate these prohibitions to help promote economic growth by facilitating easier access to capital through a less burdensome regulatory framework," wrote New York-based law firm Tannenbaum Helpern Syracuse & Hirschtritt yesterday. The JOBS Act was signed into law more than a year ago.

Private investment funds issuers will be allowed to solicit and advertise to a wider group of potential investors and communicate more freely with them. They will however only be able to sell their securities to investors who meet certain eligibility requirements laid down in the Securities Act (e.g. minimum n......................

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