Washington, DC – MFA, in collaboration with a coalition of trade associations representing broker dealers, banks, asset managers, and related financial institutions of all sizes, issued the following statement on the agreement to raise the federal debt ceiling:
“We are encouraged that the Administration and Congressional leaders have reached a bipartisan agreement to raise the federal debt ceiling. America’s capital markets are the strongest, deepest, and most liquid in the world, and we should not do anything to jeopardize that. It is critically important that the United States stand fully behind its obligations. Failure to do so would immediately ripple through the financial system and do irreparable harm to the U.S. economy.”
“We respectfully urge our public leaders to finalize the debt ceiling deal and take the remaining critical steps necessary to protect our nation’s financial standing in the world.”
The statement was issued by Managed Funds Association (MFA), The American Bankers Association (ABA), Bank Policy Institute (BPI), Consumer Bankers Association (CBA), Financial Services Forum (FSF), International Swaps and Derivatives Association (ISDA), Investment Company Institute (ICI), and the Securities Industry and Financial Markets Association (SIFMA).
About the Global Alternative Asset Management Industry
The global hedge fund and alternative asset management industry, including hedge funds, credit funds, and crossover funds, has assets under management of $4 trillion (Q4 2022). The industry serves thousands of public and private pension funds, charitable endowments, foundations, sovereign governments, and other global institutional investors by providing portfolio diversification and risk-adjusted returns to help meet their funding obligations and return targets.
About the Managed Funds Association
Managed Funds Association (MFA), based in Washington, DC, New York, and Brussels, represents the global alternative asset management industry. MFA’s mission is to advance the ability of alternative asset managers to raise capital, invest, and generate returns for their beneficiaries. MFA advocates on behalf of its membership and convenes stakeholders to address global regulatory, operational, and business issues. MFA has more than 170 member firms, including traditional hedge funds, credit funds, and crossover funds, that collectively manage nearly $2.2 trillion across a diverse group of investment strategies. Member firms help pension plans, university endowments, charitable foundations, and other institutional investors to diversify their investments, manage risk, and generate attractive returns over time.