kaal:claim:2811729-005

The investor eligibility line has become arbitrary in the credit space: private funds implementing substantially the same investment strategy as a fixed income unconstrained mutual fund, and carrying substantially the same risks, may be sold only to high net worth and sophisticated investors through private placements.

purchased by high net worth and sophisticated investors through private placements, although the private funds implement substantially the same investment strategy as a fixed income-focused UMF, and are subject to substantially the same types of strategic and other investment risks as a UMF.

Wulf A. Kaal, Unconstrained Mutual Funds and Retail Investor Protection (2016), I. Introduction, p. 6
https://ssrn.com/abstract=2811729 · source PDF

Wulf A. Kaal, Unconstrained Mutual Funds and Retail Investor Protection (2016). SSRN: https://ssrn.com/abstract=2811729

• fixed income focused unconstrained mutual funds compared with credit private funds

failuresupport: arguedfailure: Same risk, different investor gatefamily: regulatory-arbitrageregulatory-failure

The quote above is an exact substring of the source PDF, whose sha256 is 0877b0a076f2614559cb0b1a736f73401cecbee7cfe014da6e36709208e92a74. Extraction method: pdf-text-layer.
Attestation record: colloquium/attestations/f017416c047e8d7e...json
Verify the binding yourself: curl -s https://wulfkaal.github.io/claims/2811729-005.md | sha256sum