SEC Plans Sweep Of Alternative Mutual Funds

Jul 9 2014 | 6:23am ET

The Securities and Exchange Commission is set to turn its wary eye on so-called alternative mutual funds.

The regulator plans to begin a set of examinations of such funds, known as a sweep, later this summer or in the fall, the head of its investment management division, Norm Champ, said last week. The SEC will focus on leverage, liquidity, compliance, valuation, governance and disclosure, he added.

The sweep will initially include between 15 and 20 fund families, Champ said.

Investors have poured billions into alternative funds in recent years, as investors shut out of traditional hedge and private-equity funds flock to mutual funds promising similar strategies.


In Depth

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...