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U.K. Church Is Unlikely Defender of Hedge Funds

WSJ – The Church of England has emerged as an unlikely defender of the hedge-fund industry against the prospect of new regulations from the European Union.

Only last year, the Archbishop of York was calling hedge funds “bank robbers” for profiting from the fall in bank stocks.

Now, a group of six of the U.K.’s largest charitable foundations, including the Church of England, has told a House of Lords committee that a proposed EU directive would “significantly restrict our ability to generate funds to pursue our charitable missions and thus reduce our impact for public good.”

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