Dow Jones -The Alternative Investment Management Association has voiced concern over taxing larger U.S. hedge fund managers to finance the cost of the financial-regulation bill, saying the industry has been “singled out for more onerous treatment.”
The cost of the bill is estimated at up to $19 billion.
The global hedge fund association, which represents more than 1,100 members in over 40 countries, said the assessment on hedge funds with $10 billion or more in assets is “unfair” and “inappropriate,” and said no hedge fund received public funds or caused any financial stress to a banking institution or other counterparty during the crisis. Under the proposal, besides hedge funds, the bill will be footed by financial institutions with $50 billion or more in assets.
