Executive calls for overhaul of hedge fund reporting

02/21/2006 | Registered Rep.

Robert Pozen, chairman of fund complex MFS Investment Management, said hedge funds pose a "systemic risk" to retail investors. Pozen told the National Investment Company Service Association's annual meeting that selective reporting by hedge funds created a false picture of universal success among the estimated 8,000 existing hedge funds. "I seriously doubt there are 8,000 geniuses out there," Pozen said.

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