Hedge funds whose managers have deregistered or will deregister as investment advisers with the SEC will continue to be eligible assets of French funds, following a recent revision of the General Regulation of the Autorité des marchés financiers.

January 01, 2007

Pursuant to a recent revision of the General Regulation of the Autorité des marchés financiers (AMF), hedge funds whose managers have de-registered or will de-register with the Securities and Exchange Commission (SEC) will continue to be eligible assets of French funds provided that the manager of the hedge fund was, at the time of the investment by the French fund, registered with the subject to the supervision of the SEC.

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