| ||The Hedge Fund Versus the Mutual Fund |
Alan L. Kennard*
*Partner, Ungaretti & Harris, Chicago, Illinois. Ohio State University, B.S. 1986, J.D. 1991.
In determining whether to create, or invest in, a collective investment vehicle providing a risk arbitrage or other type of investment strategy, it is imperative that the major differences between a mutual fund and a hedge fund be understood. This article is a general summary of some of these major differences, with an emphasis on federal income taxation.