What's in Store for Hedge Fund Advertising and Public Communications?

SAN FRANCISCO, April 2, 2008 /PRNewswire/ -- On April 17th, a high-level panel of experts will discuss and debate the state of hedge fund advertising and marketing-one of the most compelling issues facing the alternative investment management community.

The 1,600-member Managed Funds Association -- represented on the panel by Benjamin Allensworth, senior legal counsel -- has long advocated for a loosening of the SEC's restrictions. Panel-participant Phil Goldstein, the plaintiff who single-handedly defeated a plan to require hedge funds to register with the SEC, has even discussed suing the SEC on First Amendment grounds, which could lead to major changes in the industry.

Other forum participants are: Pillsbury's Terry Davis, who will provide a regulatory update; and Richard Dukas, president & CEO of Dukas Public Relations, which has long provided proactive publicity and media relations services to top hedge funds.

The panel will begin at 3:30 p.m. at the law offices of Pillsbury, 50 Fremont Street, San Francisco. Members of the investment community who wish to attend should RSVP to stephanie.szeto@pillsburylaw.com.

"Hedge funds typically rely on provisions of the securities laws that prohibit general communications with the public, as those provisions are interpreted by the SEC, and also because legal counsel has drilled them on the need to 'fly below the radar' and keep their investment strategies solely for qualified investors. On April 17th, managers will learn if the advertising and public disclosure regulations are about to change and what they need to know from a compliance standpoint. The panel also will discuss what hedge funds can and should do to effectively market themselves, while staying within SEC guidelines," said Jay Gould, head of the Investment Funds Practice at Pillsbury.

Among the other topics to be discussed are:

What would it mean if the SEC were to allow hedge funds to publicly advertise?

Are managers allowed to speak to the media? After all, the Wall Street Journal, Barron's and others regularly feature and quote top managers-and even discuss performance.

What are the benefits of permitting hedge funds to provide more information to the public?

How might the business change if hedge fund advertising is permitted?

Form ADV proposals, experience with Rule 206(4)-8 and best practices related to valuing hard-to-value portfolio securities.

MEDIA CONTACT: Kristina Ferrari

                    212/704-7385 Ext. 106
                    kristina@dukaspr.com