We are in the early stages of a major evolution in asset management and how people invest their money declares Stuart Bohart, head of alternative investments at Morgan Stanley .

Hedge funds are leading the current trend of alternative approaches being taken up by more traditional asset managers. Bohart declares that the the industry will continue to grow as we are seeing an explosion in interest from institutional investors . The modern investment climate presents less of a polarised distinction between hedge funds on one end and mutual funds on the other - rather more, modern asset management welcomes managers with evolving models.

Morgan Stanley is reported to spend in excess of $100m annually on technology to set the pace in the hedge fund industry. Stanley’s prime brokerage division is set to become a global operation that can offer hedge funds in all investment strategies. Bohart comments, to succeed, we must become global and we must be multi-asset class, just as hedge funds have done.