From Businessweek: The firms most likely to benefit first
from new rules that would allow hedge funds to conduct wide advertising
campaigns aren’t hedge funds.
The Jumpstart Our Business Startups Act, signed into law by
President Barack Obama in April, ended a ban on the advertising of
non-registered securities as part of an effort to expand funding options for
startup companies. The law may give the biggest advantage to firms with
trillions of dollars in assets and create a divide between asset managers that
offer hedge funds, private equity and other alternatives and those that don’t,
such as traditional mutual-fund companies.
“The JOBS Act is something where the advantage is for hedge
funds, but they don’t have the skills for it and the traditional managers that
have alternatives have the capabilities to take advantage of it,” Benjamin
Phillips, a partner at consulting firm Casey, Quirk & Associates in Darien,
Connecticut, said in a telephone interview…….
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