July 15, 2020
I strongly oppose reducing the AUM threshold for investment managers. Reducing the number of funds that disclosed their holdings to the public from potentially by 90% of all filers does not promote transparency. When Congress first adopted Section 13(f) it did so to stimulate a higher degree of confidence among all investors in the integrity of the US securities markets. Taking this data away will have the opposite effect. Transparency is what gives investors confidence in US markets.