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Question on Hedge funds

1. What do we mean by Long/Short funds (w.r.t to Hedge Funds)

2. What do we mean by Market -neutra funds(w.r.t to Hedge Funds

Long/Short - name kinda explains it: taking long and short positions on securities.....you know buying v selling short (Long only funds cannot sell short as per their SLA)

Market neutral - funds offset their long and short positions to hold no specific position against the market.....generally though they never exactly offset and especially with the different risk levels inherent in the securities themselves

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