Monday, April 29, 2013

Hedge funds zoom in on mutual funds



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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