Investment management firms are increasingly allowing their managers to run both hedge and mutual funds, and with the fees so more lucrative for hedge funds, regulators and lawmakers worry that investors in mutual funds will get the short end of the stick, The Wall Street Journal reports.

Last year, Morningstar tracked 112 managers running both types of funds. This year, that’s up nearly 11% to 124. As recently as 2002, there were only 60 managers running both types of funds.

Among those permitting their managers to run both types of funds are Vanguard, Pioneer Investment Management, Gartmore Global Investments and RiverSource Investments.

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