Hedge Funds

JMG de-registers from the SEC


While many U.S. hedge fund managers are voluntarily signing up to register as an advisor with the SEC - viewing it as either a good business move or an inevitable requirement - JMG Capital Management has told investors it will de-register with the SEC.

Jonathan Glaser, founder of the $1 billion Los Angeles-based arbitrage shop, apparently has taken the decision because, after four years of voluntary registration, he found it too time-consuming and costly.

As the firm imposes a two-year lock-up it is not required to be registered under an exemption in the SEC rules.