kaal:claim:2715083-024

The subadvisory route leaves a regulatory gap: none of the mutual fund manager's obligations, such as daily valuation, public and SEC reporting, or independent boards, reach the private fund adviser serving as subadviser.

Source quote, verbatim

none of the mutual fund manager's regulatory obligations (such as daily valuation, public/SEC reporting, independent boards, etc.) apply to the private fund subadviser.

From

Kaal, Confluence of Mutual and Private Funds (2016), IV.1 Investor Preferences, footnote 29, p. 11
https://ssrn.com/abstract=2715083 · source PDF

Cite as

Kaal, Confluence of Mutual and Private Funds (2016). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2715083

Holds when

private fund managers subadvising a mutual fund, subfund, or account

Classification

failuresupport: assertedfailure: Subadviser regulatory gapfamily: enforcement-gapeconomics

Verify

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