ICI Supports SEC Call for Registration of Hedge Fund Advisers

Washington, DC, October 26, 2004 - Investment Company Institute President Paul Schott Stevens today issued the following statement in response to the SEC's vote to require the registration of hedge fund advisers.

"We strongly support today's actions by the SEC, in light of the significant implications that the dramatic growth of hedge funds has for all participants in our capital markets. Requiring hedge fund advisers to register with the SEC seems altogether prudent in light of the record before the Commission."