View or download a PDF of the letter here.
AFREF sent a comment letter to the Securities and Exchange Commission supporting several of its proposals that would better protect investors in private funds (such as hedge funds and private equity firms) that currently do not have the basic, necessary information they currently need to make informed decisions.
AFREF supports the Commission’s proposals that would require the private fund advisers to provide to investors on a quarterly basis:
- a table detailing all the different fees and expenses charged
- a standardized, reliable set of returns for investors to evaluate alongside more detailed assumptions used to calculate returns
- disclosures on special arrangements it may have with certain investors, often referred to as “side letters”