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Article: Analysis: Move Over, Hedge Funds~Sovereign wealth funds' rapid growth puts U.S. regulators on guard.
- Article from:
- Securities Industry News
- Article date:
- December 17, 2007
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Sovereign wealth funds manage nearly $1 trillion more than hedge funds, and are expected to grow at a much faster rate, yet they remain relatively unknown to U.S. investors. The funds are, however, attracting the attention of Congress, the Securities and Exchange Commission and public policy experts, who say that along with some benefits, they pose new risks for the securities markets as well as the U.S. and global economies.
Testifying on Nov. 14 before a Senate Banking subcommittee, David McCormick, undersecretary of the Treasury for international affairs, said that sovereign wealth funds manage total assets of between $1.9 trillion and $2.9 trillion, ...