v • d • e Hedge funds and Alternative investments Investment strategy Arbitrage / Relative value Equity market neutral • Fixed income arbitrage • Convertible arbitrage • Statistical arbitrage • Volatility arbitrage • Capital structure arbitrage Event driven Merger arbitrage / Risk arbitrage • Distressed securities • Activist shareholder Directional Long / short equity • Global macro • CTA/managed futures • Dedicated short Other Fund of hedge funds / Multi-manager Trading Program trading • Algorithmic trading • Prime brokerage • Trend following • Day trading Related terms Markets Equity • Fixed income • Commodities • Money markets • FX • Derivatives • Structured securities Misc Alpha • Beta • Hedging • Shorting • Securitization • Technical analysis • Fundamental analysis Investors Institutional Investors • Pension funds • Insurance companies • Endowments • Investment Banks • Commercial Banks • Fund of hedge funds • High net worth individuals • Family offices • Sovereign wealth funds Hedge funds • Hedge fund managers • Alternative investment firms

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