ATLANTA BASED GLOBAL ASSET ALTERNATIVES LLC MAKES SUMMARY AND COMMENTARY ON SEC HEDGE FUNDS REPORT AVAILABLE TO THE MEDIA AND INVESTORS
FOR IMMEDIATE RELEASE
October 21, 2003
Editor Contact: Marilyn Pearlman or Carole Mumford
404-298-6910
GLOBAL ASSET ALTERNATIVES LLC RELEASES SUMMARY AND COMMENT ON SECURITIES AND EXCHANGE COMMISSION REPORT ON HEDGE FUNDS
Atlanta, GA.(PRWEB) October 22, 2003 Its been less than a month since the US Securities & Exchange Commission (SEC) released its long awaited staff report Implications of the Growth of Hedge Funds." Global Asset Alternatives LLC, an Atlanta firm which specializes in creating and executing investment strategies in real estate, hedge funds and private equity has released a Summary and Comment" on the SEC report that is available to the media and investors.
An intense investigation of the hedge fund industry began in earnest several months ago, when the SEC considered the overall risk associated with hedge fund investments. This investigation was borne of their concern that hedge funds were being offered to a wider segment of the public than was desirable, given the perceived risks of these types of investment strategies," said Catherine Jackson, Managing Director of Global Asset Alternatives, LLC.
Jackson continued, Taken together, we basically feel the SEC staff recommendations are tantamount to an admission by the agency that after taking a hard look at hedge funds, they have found them to be useful investment vehicles, definitely not in need of any major regulatory overhaul. The report states outright on page viii that ‘hedge funds offer investors an important risk management tool by providing valuable portfolio diversification because hedge fund returns in many cases are not correlated to the broader debt and equity markets. This is what we in the industry have been saying all along so its quite gratifying that the SEC has finally come to the same conclusion."
Christian Wilson, Director of GAA, says, The SEC staff report succeeds at encouraging investors and market skeptics to recognize hedge funds for their long-term benefits. The suggestion by the report for improving disclosure by hedge funds will benefit investors and assist the SEC when monitoring financial markets."
The report also suggested issuing a concept release to examine the wider use of hedged strategies, such as short selling, in mutual funds," said Jackson. "This might be the first step toward making these risk reducing strategies available to ordinary investors."
Formed in 2001, GAA manages client assets in excess of $200 million. The company is a Registered Investment Advisor and a Commodity Trading Advisor. GAA is affiliated with two Georgia based companies, Synovus Financial Corporation and AFLAC, Inc,
For a copy of GAAs Summary and Comment on The SEC Report" on hedge funds or to set up interviews with Jackson or Wilson contact Marilyn Pearlman or Carole Mumford at 404-298-6910. Visit Global Asset Alternatives on the web at www.gaa-llc.com.
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