Hedge fund managers are crossing over into the traditional money management space of mutual funds, according to Schooner Investment Group.

Greg Levinson (pictured) of Schooner Investment Group did this in early 2008.

Levinson, a 15 year hedge fund veteran, launched the Schooner Growth and Income Fund with the intention of bringing more sophisticated investment strategies into a mutual fund framework.

The mutual fund structure has a lot of appeal to investors, offering daily liquidity, full transparency, management fee only pricing and little to no leverage.

Hedge funds offer sophisticated strategies, good risk management techniques, and a high talent pool to draw from.

"It seemed a natural progression to merge some of the positive aspects of these two worlds, and we are pleased that Schooner Investment Group is on the front end of this emerging trend," says Levinson.