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Article: Hedge Fund Investors Worried E.U. Plans Limit Choice
- Article from:
- Reuters Hedgeworld
- Article date:
- September 18, 2009
CopyrightCopyright 2009 Reuters Hedgeworld. Provided by ProQuest LLC. (Hide copyright information)
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LONDON (Reuters) - Institutional investors said on Thursday
[Sept. 17] that draft European Union rules that could bar non-E.U.
fund managers from marketing their products in the region could
limit their investment choices and upset their portfolio balance.
U.S. managers "would effectively be excluded from the E.U.
market," a senior fellow at the U.S. Securities and Exchange
Commission asserted at a conference hosted by Britain's Financial
Services Authority.
"Choice is the biggest single area of concern for us," said
Jeremy Hill, general counsel for the Universities Superannuation
Scheme (USS), which runs 24 billion ($39.73 billion) in assets. "In
order to meet (our) target (allocation) ...