Funds using alternative investment strategies are a rising focus of the SEC, according to Andrew “Drew” Bowden, head of the investment advisor and fund program at the SEC Office of Compliance Inspections and Examinations. Financial Advisor reported that these funds are of increasing interest to the SEC because they generally hold riskier assets and their popularity is on the rise (alt funds’ share of the mutual fund market is expected to grow from 3% to 15% in the next 10 years). SEC officials indicated that they will be looking at portfolio manager expertise, as well as valuation and liquidity procedures of alternative funds.