In a recent report, SEI offered a commanding and comprehensive view of the growing market for retail alternatives such as alternative mutual funds, UCITS and related products.  See “How Can Hedge Fund Managers Organize and Operate Alternative Mutual Funds to Access Retail Capital (Part Two of Two),” Hedge Fund Law Report, Vol. 6, No. 6 (Feb. 7, 2013).  The report accomplishes three important things.  First, it sizes and segments the market for retail alternatives – data that can greatly assist in sharpening marketing efforts for such products.  Second, the report catalogues the challenges faced by hedge fund managers launching retail alternative products – challenges relating to investor screening, liquidity management, distribution and fee compression, among others.  Third, the report provides a checklist of structuring and regulatory considerations for hedge fund managers looking to enter the retail alternatives market.  This article summarizes the main action points from the report.  In so doing, this article aims to serve as a reference tool for hedge fund managers looking to enter what, by all accounts, appears to be a sizable, complex and paradigm-shifting market.  See also “Dechert Partners Aisha Hunt and Richard Horowitz Discuss Strategies and Challenges for Hedge Fund Managers Wishing to Enter the Alternative Mutual Fund Space,” Hedge Fund Law Report, Vol. 6, No. 20 (May 16, 2013).