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(From ABIX - Australasian Business Intelligence - Sydney Morning Herald)
Byline: John Garnaut
Hedge funds are to come under closer regulatory scrutiny. On 5 March 2003, the Australian Prudential Regulation Authority (APRA) said some superannuation trustees have exposed investors to high-risk strategies by diverting some of their money into hedge funds. This has come as more money is pumped into superannuation, thanks to Australia's compulsory superannuation system. In fact, Australia is now one …