The days of investment managers defining themselves as regulated fund managers, private fund managers or separate account managers are gone.

Many managers are beginning to offer their strategies in new ways in response to today's hyper-competitive landscape and investor-empowered marketplace. Packaging strategies in '40 Act mutual funds, collective investment trusts (CITs), limited partnerships or other vehicles can provide opportunities to fully capitalize on the market and help managers diversify their underlying assets, investor bases and revenue streams, while building their brand in new markets.

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