kaal:claim:2715083-032

The Volcker Rule cuts banks off from direct hedge fund investment and thereby pushes them toward accessing hedge fund strategies through retail alternative funds, a shift that could be substantial given banks' prior role as major hedge fund investors.

By limiting banks' investments in derivatives and the hedge funds they sponsor,57 the Dodd-Frank Act limits access to hedge fund investments but incentivizes banks to access hedge fund strategies using a retail alternative fund.

Kaal, Confluence of Mutual and Private Funds (2016), V.3 Retail Alternative Fund Growth, p. 18
https://ssrn.com/abstract=2715083 · source PDF

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

• bank holding companies after July 21, 2015
• Dodd-Frank section 619 and related derivatives limits

mechanismsupport: arguedsystemic-risk

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