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A window on transparency

Hedge funds will no doubt start 2004 where they left off in 2003 - as the investment vehicles of choice for private and institutional investors looking for the best opportunities for decent returns.

But the issue of transparency is now more topical than ever, which Omgeo's Dominic Rieb-Smith argues can only be satisfactorily addressed through technology and efficient business processes.

Tough trading conditions may have forced some smaller hedge funds out of business this year; nevertheless, managers continue to flock to the sector. Industry reports show that 200 funds have been set up

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