The FSA's proposals to provide greater retail access to hedge funds, via collective vehicles, are a landmark policy development for the regulator
Hedge funds evoke a variety of responses, such as too complicated, dodgy and cannot be trusted - and those are just reactions from people who work in financial services. Given this backdrop, the FSA's recently issued consultation entitled Funds of Alternative Investment Funds (Faifs) represents a landmark policy development for the regulator. So, what is the FSA proposing and why now? The overarching proposal is to allow retail customers to invest in a fund of hedge funds structure provided the principal manager clears a number of hurdles first. In order to allow this, the FSA will re-wr...
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