Hedge funds and Super Bowl ads
When the Securities and Exchange Commission loosened marketing restrictions for hedge funds in September, there was speculation that hedge fund advertising might take off. Flashy Super Bowl ads for hedge funds anyone? So far, however, it seems hedge funds have decided not to dazzle with marketing. Only 1 percent of hedge fund managers plan to advertise this year, according to figures from Askia, a research company that polled nearly 200 hedge funds. This is probably a relief for mutual fund managers who might have worried about hedge funds encroaching on their customer base. But then again it is still early days and hedge funds have a few other things on their plates, like Dodd-Frank. "They need to get through their first examination cycle by the SEC and then they will look at advertising," said Howard Groedel, chairman of the securities regulatory compliance group at Ulmer & Berne.