Could one create 10 hedge funds were each holds 10 % of the shares of the other nine and sells 10 % of the shares to the public?
Hedge funds are not governed by the Investment Company Act of 1940 and are not required to register with the Securities and Exchange Commission. Hedge fund managers now must register as investment advisors. You may sell shares to the public. ChaCha!
Answered -
About Hedge Fund
A hedge fund is an investment fund that is open to a limited range of investors who pay a performance fee to the fund's investment manager.
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