From pionline: Hedge fund managers are looking to the mutual fund industry
for their next source of growth. With the relentless shift to defined
contribution plans from defined benefit plans, hedge fund managers are looking
to DC plans to diversify their client base.
“I think this is a spectacular opportunity. The 40 Act (the
Investment Company Act of 1940, which regulates mutual funds) has real,
tangible benefits for retail investors, and you will see some world-class hedge
funds entering the liquid alternatives space,” said Neil Siegel, managing
director and head of New York-based Neuberger Berman Group LLC's global
marketing and product development….
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