MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, October 31, 2014 Alt Fundsters, the SEC Frowns on Laundry Lists Fundsters with alternative products, beware. Norm Champ doesn't like your laundry lists... of investment strategies, that is. Champ, director of the SEC's division of investment management, spoke Wednesday in New York at the SIFMA Complex Products Forum [see the text of the speech]. He urged fundsters to take a closer look at how they disclose their investment strategies. Mark Schoeff Jr. of InvestmentNews reported on Champ's speech. Champ, the trade publication says, worries about funds "providing a laundry list of strategies in their disclosure forms," despite perhaps using actually using a handful of those strategies. "If we find gaps between what you told us you're going to do and what you're doing, that could become an issue," Champ reportedly said. "You've got to make sure you match your disclosure to what you're actually doing." INews notes that Champ's SIFMA speech follows two speeches he gave earlier this year, when he talked about "value, liquidity and leverage risks" around alts (in June) and "potential compliance problems" (in September). Printed from: MFWire.com/story.asp?s=50056 Copyright 2014, InvestmentWires, Inc. All Rights Reserved |