Rules of the road: Ucits and mutual funds reveal shift to regulated products

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The hedge fund industry has never embraced regulatory control. For much of its history, the industry has fought tooth and nail to remain free of the rules and restrictions that govern the traditional investment business.But the apparent inevitability of regulation at the EU and US level has forced a change in attitudes in the industry. Rather than wait for the regulators to set the rules, some hedge fund managers are opting to launch regulated products.In 2009, largely as a result of investor