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Tuesday, February 26, 2013

SEC Puts Alts Mutual Funds Under the Microscope

News summary by MFWire's editors

The SEC is increasing is scrutiny of alternative fund products, according to Financial Advisor.

The publication quotes Drew Bowden, head of the investment advisor and fund program at the SEC’s Office of Compliance Inspections and Examinations, during a Saturday speech at the who spoke Saturday at the Practising Law Institute’s two-day SEC Speaks forum in Washington, D.C.

According to Financial Advisor, alternative funds are expected to grow from 3 percent of mutual fund assets currently to 15 percent in 10 years.

Bowden argued that alternative vehicles require an extra effort by mutual fund compliance operations due to the high complexity of the investments used in these products. Moreover, SEC officials indicated they plan to scrutinize portfolio managers at the funds to see if they have the expertise needed to adequately run alternative investment strategies.

They said they’ll look closely at valuation at the firms since some alternative investments are illiquid, according to the magazine.

Learn more in Financial Advisor

Edited by: Tommy Fernandez

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