Risk management key as market and SEC deliver mixed messages

US long/short

US long/short managers face an uncertain future both in terms of the markets and regulatory changes proposed recently by the SEC Staff Report into hedge funds.

Managers continue to receive mixed messages from the markets and economy - almost, some say, as mixed as those coming from the industry regulator. SEC proposals to force managers with at least 14 US investors to register with them have left a cloud of uncertainty over the industry.

Nancy Curtin, chief investment officer, Fortune Asset Manag