The Securities and Exchange Commission reported today that 1,504 advisors to hedge funds and other private funds have registered with the agency.

Such registrations became mandatory in March as a result of the the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was enacted last year.

Including the 2,557 private fund advisors who voluntarily registered before Dodd-Frank, 4,061 advisors to one or more private funds are now registered with the SEC. A total of 11,002 investment advisors now are SEC-registered, with 37 percent advising hedge funds and other private funds.

Assets under management at SEC-registered advisors has risen about $5.7 trillion, or 13 percent, even though the number of advisors fell about 15 percent as the Dodd-Frank Act required mid-sized advisors to move from federal to state oversight. Under Dodd- Frank, investment advisors with between $25 million to $110 million assets under managment were required to switch from federal to state registration on June 28.

The SEC also issued a notice identifying 293 advisors who may no longer be eligible for registration with the SEC because they manage less than $100 million or have failed to comply with other SEC requirements.

-Jim McConville