http://www.theaustralian.com.au/business/breaking-news/asic-beefs...

http://www.theaustralian.com.au/business/breaking-news/asic-beefs-up-rules-for-hedge-funds/story-e6frg90f-1226476653133

"The Australian Securities and Investments Commission's (ASIC) will force hedge fund managers from next June to be more up front about how and where they invest money, and the risks involved.

The new rules come three years after the $176 million collapse of Trio Capital, in what was the largest superannuation fraud in Australian history.

Trio invested money in two hedge funds, Astarra Strategic and ARP Growth, which then siphoned the cash to Caribbean tax havens." continues

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I think that Trio has been mentioned on these threads and i dont see a lot of points of comparison, but I was a shareholder type investor..
and it might interest others.

For future reference and in order to avoid "hedge funds" how do you tell the difference between funds?
Does a fund called ? 123 Capital, have HEDGE FUND written all over it? or do i have to work it out from the investments which it seems arent always clearly explained in great detail...
and so this move will improve disclosures?

It should apply to all funds,imo...but i am not familiar with any funds ipos?/marketing/contract? ..i dont know the correct term for their offer documents.