Are there any exam or qualification requirements to be a hedge fund manager?
There are no specific requirements to be a hedge fund manager, but depending on the domicile of the manager he may need to be registered as an investment advisor with the state securities commission or the SEC. If a manager was required to be registered as an investment advisor, he would likely need to have the Series 65 exam license or the Series 7 and Series 66. Depending on the nature of the hedge fund and the extent of the hedge fund’s activities, the manager may need to have the Series 7 and the fund, or a related company, would need to be registered as a broker-dealer. Is there anything hedge fund managers cannot do? Generally a hedge fund manager can mold his investment program as he sees fit. However there are two specific items to note. First, the manager should be careful when trading that he stays within the description of the trading program. Especially in these very volatile times, investors are very aware of style drift and managers should be very cognizant of this. Secon
