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MFA member firms apparently OK with rising accredited investor standard
Matthias Knab reports “live” from the MFA Network conference in Key Biscane: Paul Roth from Schulte, Roth, Zabel, an expert with 35 years experience servicing hedge funds and 1500 hedge fund clients, said there is NO regulatory black hole concerning hedge funds as half of the total top 100 hedge funds are registered investment advisors.
Arthur Lev, Morgan Stanley Investment Management pointed out to the changed landscape of hedge fund investors. The decision makers on hedge fund investing today care about tail risk and career risk, no more on merely returns as the early investors.
In the recent public discussion, the rise of the accredited investor rule to $2.5m has produced many comments and criticism from investors (posted on the SEC’s website: click here. You can add your comments regarding this SEC proposal on that link).
The $1m threshold has been in place since 1982, and the MFA has supported to adjust this for inflation (which would bring it up to $1.9m). I asked Jack Gaine, who this year will be for 10 years MFA’s president, if the MFA wasn’t surprised with this reaction? He agreed and added the MFA had a very concise consensus approach of finding out the member’s interest and formulating a common standpoint – so, in other words, the hedge funds themselves are ok with an adj...................... To view our full article Click here
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