A hedge fund is unlike other investment vehicles in that it can participate in a diverse and wide-ranging set of assets and strategies that many traditional funds cannot. A hedge fund has an investor base comprised of large institutions, like pension funds and extremely high net worth individuals. A hedge fund can deploy many different strategies, including short selling, arbitrage, leverage and quantitative driven algorithms. The goal of a hedge fund is to deliver absolute returns regardless of the overall market’s returns. They can deploy any tactic that a particular hedge fund believes gives them an edge, whether it is a market-neutral strategy, event-driven, directional, commodity-only fund, currency derivative fund, or a combination of them all. The hedge fund industry is estimated to have over $1.0 trillion in assets.