MFA Submits Comments on BEA Forms

MFA submitted a letter to the Department of Commerce and the Bureau of Economic Analysis (BEA) in response to a request for comment on Forms BE-11 and BE-577, which are periodic surveys of U.S. direct investment abroad.  In the letter, MFA explains that the reporting requirements are not well-suited to the unique structure and operations of hedge funds, as compared to operating companies.  As a consequence, hedge funds that are asked to file the Forms report information to the BEA that may not be representative of the types of investment flows that the Forms seek to measure, and the information often is burdensome to obtain.  MFA recommended that the BEA consider certain amendments to the Forms to improve the utility of the data and reduce the filing burden on hedge funds that are asked to file.