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hedge-fund

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Buy & Sell LP Interests
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Hedge Fund Accounting
Nottingham Fund Accounting and Investment Administration Services.
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Fund of Hedge Funds-
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hedge fund

–noun
a mutual fund organized as a limited partnership and using high-risk, speculative methods to obtain large profits.

Origin:
1965–70
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2010.
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Buy & Sell LP Interests
Access Unique LP Interests. Free Access to LP Interests.
www.SecondMarket.com/WholeLoans
Hedge Fund Accounting
Nottingham Fund Accounting and Investment Administration Services.
ncfunds.com
Financial Dictionary

hedge fund

A very specialized, volatile, open-end investment company that permits the manager to use a variety of investment techniques usually prohibited in other types of funds. These techniques include borrowing money, selling short, and using options. Hedge funds offer investors the possibility of extraordinary gains with above-average risk.

Case Study

Even hedge fund managers with an excellent track record sometimes decide to throw in the towel. In March 2000 well-known hedge fund investor Julian Robertson announced that he had decided to close hedge funds managed by Tiger Management LLC, a firm he started in 1980. Saying he didn't understand the booming market for Internet stocks, the value investor who had accumulated an impressive record for beating the market indicated he would return approximately $4.5 billion to investors and retain nearly $1.5 billion of his own funds. Tiger Management had produced a loss of 19% in 1999 and an additional loss of 13% in 2000 up to the date of the announcement. Liquidation of the funds required that investment positions in Tiger Management's holdings, including U.S. Airways Group and Normandy Mining, would be gradually sold so that cash could be returned to Tiger's investors. Robertson announced the closing of his hedge fund just as Internet stocks had peaked and were heading for a major decline in value.

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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Legal Dictionary

Main Entry: hedge fund
see FUND 2
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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