AllAboutAlpha.com notes a few recent news developments that underscore the fact that the asset management industry has decided that there are benefits to product diversity. That is, there's no one asset type superior to all others. First Putnam Investment has launched a family of absolute return mutual funds, just as hedge fund firm AQR has announced it will launch some mutual funds.

The fact is people sense demand for hedge fund-like mutual funds, despite the dismal news in 2008. It should be noted that on average hedge funds didn't fair nearly as poorly as equity mutual funds. In general, we can all expect a lot more diversification from investment funds of all stripes.  

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