On the recordNovember 19, 2003
Section 202 of the manager's amendment requires the commission to issue rules that will protect mutual fund investors against conflicts of the interest created by the situation where the same individual serves as a portfolio manager of both a mutual fund and a hedge fund. This provision generally bans joint management of the two types of funds by the same individual. I note that the joint management of such funds by the same individual could create conflict whereby mutual fund investors effectively subsidize the hedge fund managed by the same individual.
Source
govinfo.gov
