NEW YORK, Sept 25 (Reuters) - The Managed Fund

Association, a global trade group for the hedge fund and private

credit industry, said on Thursday it backs the Trump

administration's push to let retirement savers shoot for bigger

returns and diversify with more private equity, credit,

cryptocurrency and real estate assets, but said safeguards must

be erected.

The group, whose members include global investors

Bridgewater, Blackstone and Apollo, set out a

list of principles after President Donald Trump issued an

executive order aimed at allowing more alternative assets into

401(k) retirement plans.

MFA's member firms stand to benefit from the executive

order, which could open up some of the trillions of dollars that

Americans have saved in such retirement plans. Advocates argue

alternative assets can offer better returns, especially for

younger savers. Critics worry those investments are riskier,

less transparent, and carry higher fees than the public equities

thee plans traditionally favor.

MFA said access to "a flexible and wide range of options" is

best for savers at all stages of their lives and careers as long

as there are appropriate safeguards in place.

It said the fees associated with those investments should be

evaluated in light of the potential returns, and warned against

making plan sponsors select or exclude specific types of asset.

The group also said that "overzealous litigation must be

addressed" and called on policymakers to prioritize actions to

curb lawsuits that have been blamed for discouraging plan

managers from offering this kind of investment.

Wall Street's main regulatory agency, the Securities and

Exchange Commission, is working on ways to facilitate these

investments while protecting everyday savers from bad actors and

fraud, SEC chief Paul Atkins said last week.