Visibility or transparency?

The days of arguing the hedge fund industry needs to strive for respectability are long gone as this issue of Hedge Funds Review (HFR) exemplifies.

At one extreme, the French supermarket chain Carrefour is to offer hedge funds through its outlets to the retail investor and at the other end of the spectrum, LJH has recently spoken to the Bank of Japan about how hedge funds work.

While neither development means Wal-Mart in the US or Tesco in the UK are likely to start 'stacking' funds on their

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