Several features distinguish hedge funds from traditional mutual funds, including
A) mutual funds have a minimum investment requirement of $1,000 or more; hedge funds have no minimum investment requirement.
B) hedge funds typically charge investors large fees relative to mutual funds.
C) hedge fund investors need not commit their money for more than a few weeks at a time, explaining why they pay higher fees.
D) hedge funds are significantly less risky relative to mutual funds.
B
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Advocates of the public-choice view argue that voting behavior is influenced by the
a. rate of inflation prior to an election. b. level of economic activity. c. "favorite son" syndrome. d. campaign issues.
Which of the following statements best defines private costs?
A) They are internal in the sense that the buyer or seller must explicitly take them into account. B) They are costs borne by people other than those who commit the action. C) They are synonymous with social costs. D) They represent explicit costs incurred by producers in the private sector.