Brazil Mantega: hedge funds, not wealth funds, need regulating

SANTIAGO, Sept 3 (Reuters) - Brazilian Finance Minister Guido Mantega said on Wednesday hedge funds were responsible in part for the current global turmoil and should be regulated, but that wealth funds were more transparent.

"If we have to regulate, it should be on hedge funds, not so much on wealth funds," Mantega told a seminar on sovereign wealth funds in the Chilean capital, Santiago.

Mantega said sovereign wealth funds helped to stabilize the global economy -- an issue on which there are differing views among other countries where the funds invest hundreds of billions of dollars. (Reporting by Simon Gardner and Antonio de la Jara, Editing by Chizu Nomiyama)