A little knowledge

13 November 2008 By Richard Beales Follow @richardbeales1

Policymakers have been quizzing billionaire fund managers including John Paulson about issues such as improving transparency. Regulators should see more of the right data, and monitor them. But public disclosures can easily be misinterpreted and that goes beyond hedge funds.

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The House oversight committee questioned John Paulson of Paulson & Co, George Soros, Jim Simons of Renaissance Technologies, Philip Falcone of Harbinger Capital Partners and Ken Griffin of Citadel at a hearing on November 13.

The average hedge fund lost 15% in the 10 months to October, according to Hedge Fund Research. Funds are facing volatile markets and redemption requests from investors. Some have closed down, but unlike the more heavily regulated banks and other financial institutions affected by the ongoing credit woes, no hedge funds have yet received any government money.

Investment firms managing more than $100m are due this week to lodge 13F filings with the US Securities and Exchange Commission detailing their holdings of US stocks at September 30.

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