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IN BRIEF / SECURITIES

SEC Probes Hedge Fund Valuations

October 18, 2002|Bloomberg News

The Securities and Exchange Commission is examining whether hedge fund managers are inflating the value of their portfolios to increase their own compensation, an SEC official said.

The probe is focusing on new investment vehicles called "funds of hedge funds." About 20 banks and mutual fund companies have started registering these diversified investment vehicles in the last year or so.

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