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Alternative
Funds
An investment fund which uses non traditional investments practices.
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Hedge
Funds
Despite the name, hedging transactions are not the primary purpose
of such funds. Since these funds are aimed at generating absolute
income, they make investments which conventional funds are not
allowed to make (speculation on market declines, short sales,
use of derivatives, financing investments by borrowing). This
enables hedge funds to record positive returns irrespective
of the market situation. |
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Specialty
Fund
A fund which differs from conventional investment funds in that
it adopts a special investment approach or focuses specifically
on certain countries, industries or investment instruments. |
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Other
Funds
Investment funds which are neither securities funds nor real
estate funds. They may contain investments which have limited
marketability, are subject to greater price swings, have a
limited diversification of risk or which are difficult to
value (e.g.
investments in precious metals, commodities, options, forward
contracts, units of other investment funds and other rights).
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Other
Funds with Special Risks
Investment funds which, unlike funds in the other funds category,
have a special risk which is not comparable to the risk of securities
funds. There must be explicit reference to this fact in the
fund name, the prospectus and in advertisements. The units of
such funds may only be sold on the basis of a written agreement
in which the special risk is stated. |
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