Over a third of $1 billion-plus hedge funds not yet registered with SEC

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More than a third of large hedge funds in the US have not yet registered with the Securities and Exchange Commission (SEC) ahead of its July 21 deadline for managers to have their applications processed and approved, according to Citigroup.

"We just did analysis that found that, out of 220 $1 billion-plus funds, 82 had not yet registered as of March 25, but that doesn't mean that they are not going to register in time," said Sandy Kaul, head of business advisory services for Citi Prime Finance.

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