# kaal:claim:1428387-014

**Claim.** Because new hedge fund managers concentrate on highly complex and profitable instruments where pricing and valuation problems are most prevalent, it becomes very difficult for managers to guarantee investors standard or accurate pricing procedures.

**Type.** mechanism  **Support.** argued

**Holds when.**

- for newly launched funds run by managers leaving large institutions

**Source quote.**

> Most of these new managers focus their attention on highly complex and profitable instruments where pricing and valuation issues are most prevalent. This trend can make it very difficult for hedge fund managers to guarantee their investors standard or accurate pricing procedures.

**From.** Kaal, *Hedge Fund Valuation Retailization, Regulation, and Investor Suitability* (2009), III.A Regulating Complex Financial Instruments, page 15

**Cite as.** Kaal, Hedge Fund Valuation Retailization, Regulation, and Investor Suitability (2009). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1428387

**Verify.** sha256 of source PDF `6aa3a280dc6750723be2389f3af2aabf3a16c4ce20e49fcdaddd7f2ea95a67aa` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202009%20-%20Hedge%20Fund%20Valuation%20Retailization%2C%20Regulation%2C%20and%20Investor%20Suitability.pdf

**Topics.** economics

**Keywords.** new-managers, complex-instruments, pricing-procedures, market-entry

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