. Financial Innovation. A new revolution coming our way? Writing for the Financial Times's weekly review of the fund management industry, Steve Johnson highlights the coming mass-marketization of the hedge fund industry, chiefly as a consequence of the European Union's Ucits III legislation. Says Guy Monson, chief investment officer at Sarasin Chiswell: "It's a big bang and we have only just scratched the surface of what we are going to see in the next two or three years. It's hard to underestimate what a revolution this is. You ain't seen nothing yet". Read the whole thing.

- Steve Johnson: "Sophistication goes mass market", Financial Times.