Hedge funds "pose systemic risk," says US Treasury

Greater collective effort is needed to mitigate the systemic risk to the US and global financial system posed by the growing number and size of hedge funds, a leading Treasury member has claimed.

Giving testimony before the U.S House of Representatives Financial Services Committee, Treasury under secretary for domestic finance Robert K. Steel acknowledged the benefits of hedge funds as alternative investment vehicles but also highlighted possible risks.

“Hedge funds exemplify the competitiven

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