By Isla Binnie

NEW YORK (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 altern

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