Bloomberg – Mutual funds are pushing for limits on hedge fund advertising permitted under the Jumpstart Our Business Startups Act, saying such ads may hurt investors and damage the entire fund industry.
The law’s repeal of a ban on the marketing of private offerings to the general public may result in misleading advertisements for hedge funds, Robert Grohowski, a senior counsel at the Washington-based Investment Company Institute, wrote in a blog posting yesterday. The group represents more than 13,000 funds with over $13 trillion in assets.
