From Bloomberg: http://www.bloomberg.com/news/2013-09-19/levine-on-wall-street-hedge-fund-ads-10-billion-banks-paying-yourself-first.html
Levine on Wall Street: Hedge Fund Ads, $10 Billion Banks, Paying Yourself First
Hedge fund ads are coming to a TV, website, spam email near you
After rule changes due to the JOBS Act, “Starting on Monday, hedge funds, private equity funds and other firms will be allowed to reach new investors through television, radio and the Internet.” Nobody is sure what the equilibrium will be here. A lot of the biggest and most prestigious hedge funds, for instance, are somewhat secretive and closed to new investors, so advertising by hedge funds might be viewed as a sign of weakness. On the other hand small hedge funds seem to outperform bigger ones, so advertising might be a way to translate that performance into actual investors. It’ll be interesting to see. In any case the most important thing remains: “No one should ever make an investment based on the advice of an unsolicited email.” Soon you’ll have more opportunities to put that advice into practice.