RT Journal Article SR Electronic T1 A Matter of Trust JF Special Issues FD Institutional Investor Journals SP 103 OP 110 VO 2002 IS 1 A1 Ted Seides YR 2002 UL https://pm-research.com/content/2002/1/103.abstract AB Poor returns from traditional asset classes, a concurrent bear market for private equity, and acceptance of hedge funds have all led institutions to adopt hedge fund investments in search of returns they once expected from public and private equities. And for many large institutions to invest in hedge funds, trustees must be comfortable with lack of transparency in this industry. Hedge fund managers have conflicting interests. The author contends that transparency correlates directly with trust and understanding between a manager and an investor. While attempts by industry associations and intermediaries to address transparency issues are commendable, only interpersonal trust and understanding can address the cause.