August 2, 2004
Regarding amendment to rule 205-3 We agree with the amendment to rule 205-3 under the Advisers Act, allowing a hedge fund’s current investors who are not qualified clients to retain their existing investment in that fund, and to add to that account.
Regarding Rule 205-3 We are asking that the Commission consider exempting family members of “qualified clients” from minimum net worth requirements ($1.5 million) or minimum investment requirements ($750,000). Wealthy individuals want and need a way to invest money for their children’s accounts.
Regards,
Beth Dalton
Maynard Capital Partners
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