Lines are blurring

Looking back at the year that was, to my mind one trend has emerged that I feel will gather pace during 2007 – the line between traditional investment managers and hedge funds has become increasingly blurred. The distinction between the more progressive hedge funds and archetypical sell-side institutions is also somewhat hazy in the sense that, in many ways, the more aggressive, 'enlightened' funds are now mimicking certain sell-side trading and operational traits, which until recently were