Investment Management Partner Quoted in Ignites on Funds’ Expectations of SEC Buckets Based On Liquidity

An article published by Ignites reports that though fund companies oppose the SEC’s idea of requiring firms to classify each of their holdings into one or more of six so-called buckets based on liquidity, many are resigned to the prospect of this becoming a reality. However, larger fund complexes are generally not at present making specific changes in anticipation of this, stated investment management partner, Brian McCabe (Boston) in the piece. “I think the sense is they don’t want to build for six buckets and then find out we’ve got two,” Mr. McCabe explains. The article, published on April 25, outlines the findings of 130 industry workers recently surveyed by Interactive Data, who state they expect that the SEC will move forward with the quantitative liquidity buckets contained in its September rule proposal.