Reuters – The drafting of the European Commission’s directive on the hedge fund industry has been "rushed through" without adequate consultation, industry body the Alternative Investment Management Association (AIMA) said.

"We are also concerned that the process of drafting the directive has been subjected to undue political pressure," AIMA’s executive director Florence Lombard said in a statement published on Thursday.

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MSN MoneyCentral – Paulson & Co, a prominent New York hedge fund, will weigh buying shares or convertible bonds in banks and other financial institutions that need capital, the Financial Times reported on its website on Sunday.

John Paulson, its founder, remained bearish on the economy and the financial sector, but would consider taking positions in the sector as prices fall to his target levels, the paper reported, citing two unnamed investors who were on a Paulson conference call for clients last week.

Paulson is to launch its Recovery fund on October 1, the paper said.

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