Great articles from Tria at:

http://www.triapartners.com/triapartners-blogs.php?article=content/Blog-Rethinking%20active%20equities%20businesses&type=NDM

http://www.triapartners.com/triapartners-blogs.php?article=content/Blog-Active%20equities:%20how%27s%20your%20marketing%20alpha?&type=NDQ=

About a number of questions concerning the future of active management in investment funds, and how products and marketing of such need to converge.

Ulitmately, I see this as being a real challenge to the concept of the unit trust as a single vehicle for investor portfolios: Not only due to structural imperfections and costs associated with their operations, but also because the drivers for them as sustainable business models are starting to come under considerable pressure.