Experts defend hedge funds at SEC hearings

Hedge fund experts have defended their products and industry against claims of fraud, lack of transparency and the high risk of their portfolios at the first day of a two-day Securities and Exchange Commission (SEC) hearing in New York.

SEC chairman, William Donaldson, told the hearing the regulator was considering issues such as the increasing retailisation of hedge funds, transparency, risk management, conflicts of interest and fraud, and how best to deal with these.

But hedge fund experts told

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