Hedge funds down but not out as SEC fails to land the knock-out regulatory blow

In the 'Rumble in the Jungle' boxing match in 1970s Zaire, it was rumoured Muhammed Ali had the ropes around the ring loosened before his bout against George Foreman. The theory ran Ali could rest on them, absorbing blows until Foreman tired.

Last month, onshore and offshore, hedge fund managers were busy unscrewing the ropes before the SEC met on 14 July. When the SEC exited its Washington meeting on regulating hedge funds, it shied away from landing the punch many managers expected - full r