Proposals expected to trigger hedge fund M&A

President Obama's declared intention of curtailing banks' involvement with hedge funds, among other risky activities, has left asset managers anticipating a flurry of M&A activity as banks dispose of their stakes in hedge fund managers. At least six banks globally have significant holdings in the sector.

Obama announced yesterday: "Banks will no longer be allowed to own, sponsor or invest in hedge funds, private equity funds or proprietary trading activities."

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