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Hedge funds must be ready for big waves

Advent Software's Lord Calum Graham warns that the institutionalisation of hedge funds brings with it an increasing burden of regulation and compliance, for which managers should prepare

While the nineties may have played out like a Beach Boys' song, with everybody surfing the waves of market highs, the new millennium brought with it something more akin to a wave of destruction washing far into the economic hinterlands. Beset by a double whammy of tumbling equity markets and low interest rates, it left institutional and retail investors alike scrabbling for returns, their funding

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