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Article: SEC to take long look at short-selling; May lift restrictions on use of hedging by mutual funds.(News)
- Article from:
- Investment News
- Article date:
- August 11, 2003
CopyrightCOPYRIGHT 2003 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Frederick P. Gabriel Jr.
The Securities and Exchange Commission is pressing ahead with an investigation into whether mutual funds should be given freedom to make greater use of investment strategies such as short-selling.
But the possibility that the agency will lift restrictions that prevent mutual funds from investing like hedge funds is raising eyebrows.
The SEC staff may issue specific recommendations on the matter in the next few months, says Commissioner Cynthia Glassman.
"We need to look seriously at the limits we impose on mutual funds to see if they make sense,'' she says. "From the perspective of improving performance ...