Hedge funds have avoided much of the flak, but not for much
With New York State Attorney General Eliot Spitzer going
after the unsavory practices of mutual fund timers, one would
have thought that the game was up for the strategy. But not so.
While most of the funds that were involved have quietly gone
away, hoping that no one noticed them, a small but vocal group
is gearing up for a counterattack...of sorts.
At first glance it might seem like a side show to the larger
scandal, but activists from a pro-mutual fund timing group
called the "Society of Asset Allocators and Fund Timers," based
in Colorado, are infuriated that the timing techniques employed
by their 200 members - including hedge funds - with $15 billion