In the United States, hedge funds are open to accredited investors only.Because of this restriction, they are usually exempt from any direct regulation by the SEC, NASD and other regulatory bodies.

• 在美国，套利基金只对信用审查合格的投资者开放，由于这一限制，它们通常不需要SEC、NASD及其它管理机构进行直接管理。