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One of the tasks I took as the CEO of Managed Funds Association, which represents the hedge
fund industry, was to do a survey of what people thought about our industry, and it
was of concern because there were many misconceptions. Many people saw the hedge fund industry as
located in a small part of the United States with no relationship to them or their families.
Most are now surprised to learn that our hedge fund managers are managing investments by
your local university's endowment to help provide scholarships for your children. Most
are surprised to learn that we're managing resources for your state employees retirement
system that provides assets and stability of return for firemen and police in your community.
And just about everyone is surprised to find out that hedge fund managers often are providing
resources for a local community project that otherwise would not be built. Hedge funds
are in every community in every state, providing opportunities that perhaps would not exist
were it not for their hard work.