Hedge Funds

MFA moves to embrace disclosure


When Richard Baker, president and CEO of the Managed Funds Association, was a Republican congressman from Louisiana, he was, by his own admission, a "financial bomb thrower." In 1999, following the Long-Term Capital Management implosion, Baker introduced a bill to require disclosure by hedge funds.

Now the MFA is "going down the same path," said Baker, referring to the hedge fund group's embrace of the "best practices" report of the hedge fund committee to the President's Working Group on Financial Markets, a study released in April. One of the report's most controversial proposals was a call for quarterly