A hedge fund is a limited partnership of private investors whose money is managed by professional fund managers using a wide range of strategies to earn above-average investment returns. Hedge fund investment is often considered a risky alternative investment choice and is best suited for experienced, professional investors.
The fund is a convenient, highly liquid, low-risk investment option focused on fixed-income securities. It is well-suited for short-term cash management purposes.
Each company can customize its pension fund tailored to its unique characteristics.
Portfolio management
ACTIVE PORTFOLIO MANAGEMENT
Active management is an investment strategy where portfolio managers or investment advisors actively make decisions regarding the composition of a portfolio in an attempt to outperform the market or a specific benchmark index.
Has the potential to earn higher returns.
Flexible decision-making coupled with a strong capacity to adapt to market movements.
High reliance on the quality of research and extensive experience.
Fees, transaction costs, and taxes may be relatively high
The decision-maker's errors can have a significant impact.
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PASSIVE PORTFOLIO MANAGEMENT
Passive portfolio management is an investment strategy that involves building a portfolio designed to track the performance of a specific market index or benchmark. The goal of passive management is to match the returns of the chosen index rather than attempting to outperform it.
Reduced flexibility in decision-making and limited adaptability to market movements.
A diversified portfolio with reduced potential for achieving high returns.
Fees, transaction costs, and taxes may be relatively low
Decision-makers have limited impact on performance.
Portfolio performance mirrors the market, both during expansions and contractions.
Investment strategy
Investors
Hedge funds are best suited for a small number of sophisticated investors who have a high tolerance for risk and can afford to allocate a portion of their portfolio to alternative investments.
Fund shares are offered to the general public.
Investment approach
Hedge funds generally operate with less regulation compared to other investment vehicles like mutual funds. Thus, hedge funds use a multi-strategy approach to diversify across various strategies to potentially generate higher returns and manage risk more effectively.
In contrast to hedge funds, the legal framework is subject to stricter regulation. Thus, the investment strategy results in a narrower set of financial assets.
Liquidity
Hedge funds impose lock-up periods during which investors cannot redeem their interests. Therefore, it is considered less liquid than mutual funds.
High liquidity due to the ability to sell share units back to the fund and trade them on the stock exchange.
Эрэлтийн хэмжээгээр нэгж эрхээ гаргадаг бөгөөд нэгж эрхээ эргүүлэн худалдан авах үүрэг хүлээдэг.
Сан үүсгэн байгуулахад нэгж эрхийг олон нийтэд худалдах бөгөөд түүнээс хойш сангийн үйл ажиллагаа явуулах хугацаа дуусах хүртэл, нэгж эрхээ эргүүлэн худалдан авах үүрэг хүлээдэггүй.
Сан нэгж эрхээ эргүүлэн худалдан авах үүрэг хүлээдэг тул хөрвөх чадвар өндөр.
Сангийн нэгж эрхийг биржээр дамжуулан худалдах боломжтой хэдий ч биржийн арилжааны идэвх сул тохиолдолд хөрвөх чадвар мууддаг.
Хөрвөх чадвартай байх шаардлага үүсдэг учраас хаалттай сангаас бага өгөөжтэй байх хандлагатай.
Нэгж эрхээ эргүүлэн худалдан авах үүрэг хүлээдэггүй тул сангийн хөрөнгийг бүгдийг нь хөрөнгө оруулалтад байршуулж болдог бөгөөд өгөөж нь хамтын нээлттэй сангаас сайн байх боломжтой.
Хөрөнгө оруулагчийн хувьд сангаас нэгж эрх авах болон зарах ханш нь өдөр бүрийн цэвэр хөрөнгийн үнэ цэнээр NAV тодорхойлогддог.
Үнэ ханш нь бирж дээр тогтдог тул нэгж эрхийн үнэ нь цэвэр хөрөнгийн үнэ цэнээс өндөр эсхүл бага байж болдог. Ихэвчлэн зах зээлийн үнэ нь цэвэр хөрөнгийн үнэ цэнээс доогуур арилжаалагддаг.
