# kaal:claim:2715083-040

**Claim.** Proposed SEC Rule 18f-4 is a potential threat to the alternative mutual fund business model, because its risk based portfolio limit could undermine managers' ability to implement their investment strategies using derivatives.

**Type.** predictive  **Support.** argued

**Holds when.**

- if proposed Rule 18f-4 is adopted as proposed
- alternative mutual funds relying on derivatives

**Source quote.**

> Proposed SEC Rule 18f-461 constitutes a potential threat for the business model of the alternative mutual fund industry.

**From.** Kaal, *Confluence of Mutual and Private Funds* (2016), VI. Conclusion, page 20

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

**Verify.** sha256 of source PDF `b5c92186260d4a8499a14f81ee24ace093b24e7740af3effcd1c526fa4fa221e` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202016%20-%20Confluence%20of%20Mutual%20and%20Private%20Funds.pdf

**Topics.** private-funds, dynamic-regulation, securities-law

**Keywords.** rule-18f-4, derivatives, alternative-mutual-funds, sec-rulemaking

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