Growth of Hedge Funds, 1990–2009
Assets under Management and Net Asset Flow, 1990–2009* (billions of dollars)
*Second quarter 2009. Estimates vary over the amount of assets and the number of funds. Research companies use different definitions and models to value hedge fund assets. Source: Hedge Fund Research, Inc. Available by subscription at: www.hedgefundresearch.com.
- 120. Certain family-owned companies that are deemed “qualified purchasers” pursuant to Section 2(a)(51)(A)(ii) or (iii) of the Investment Company Act should not be covered by the new requirements, however. Companies, trusts and estates etc., that are owned by members of one family and that own investments should not be deemed to be investment companies or regulated like other private investment funds.
- 121. This requirement is consistent with the AMC Best Practices, and would close the above-described gaps in the protections provided by the Advisers Act custody rule. Chanos, July 15, 2009 testimony, op. cit., footnote 6.
- 122. This requirement is consistent with the AMC Best Practices.
- 123. See n. 15 supra.
- 124. These requirements are consistent with the AMC Best Practices.
- 125. This requirement is consistent with the AMC Best Practices.