*The European Union finance ministers said they will keep an eye on hedge funds, but see no reason to set new, tighter rules. More of this story here.

* Goodman & Company Investment Counsel Ltd. announced the launch of the Dynamic Global Value Balanced Fund, a balanced fund offering global diversification. Canadian Hedge Fund Launch.

* Ignoring leverage, hedge funds account for 1% of global financial assets, and up to 4% if borrowing is included. Yet they account for more than 50% of daily turnover in London and New York-listed equities and 60% of credit derivative volumes. Funds bet markets will remain calm.

* Democratic Presidential Candidate John Edwards said Tuesday that he worked for a hedge fund to learn more about financial markets and their relationship to poverty in the United States. Edwards Discusses Hedge Fund Job.