hedge fund

American Heritage® Dictionary of the English Language, Fourth Edition

1. n. An pooled investment fund, usually a private partnership, that seeks to maximize absolute returns using a broad range of strategies, including unconventional and illiquid investments.

Wiktionary

1. n. Any unregistered investment fund, often characterised by unconventional strategies (i.e., strategies other than investing long only in bonds, equities or money markets). All hedge funds are supposed to be hedged from risk; hence the name.

GNU Webster's 1913

1. n. (Finance) a mutual fund or partnership of investors who pool large sums of money to speculate in securities, increasing the risk of such activity by using borrowed money to leverage the investments, or by selling short.

WordNet 3.0

1. n. a flexible investment company for a small number of large investors (usually the minimum investment is $1 million); can use high-risk techniques (not allowed for mutual funds) such as short-selling and heavy leveraging
2. n. a flexible investment company for a small number of large investors (usually the minimum investment is $1 million); can use high-risk techniques (not allowed for mutual funds) such as short-selling and heavy leveraging