The
The news comes on the heels of the
Congress is concerned over the explosive growth of hedge funds to more than 7,000 with $600 million in assets today; their impact on the economy, particularly since they are not required to register with the SEC; and whether these are appropriate investments for investors. Once the domain of only the very wealthy, asset management companies have been opening hedge fund-of-funds with minimum balances of as low as $25,000 to appeal to middle-income investors, and it is this extended reach that has Congress concerned.
The hearing will look into whether regulatory steps are needed, Baker said.
