Hedge fund
A hedge fund is a private investment fund that tries to make money whether markets go up or down. Its money comes from institutions and wealthy individuals, and it has far more freedom than an ordinary fund. It can bet on prices falling (shorting), borrow to invest more than it holds (leverage), and use derivatives. It is usually paid a yearly fee plus a share of the profits it makes.
Hedge funds are known by their strategy. Long/short equity funds buy shares they like and short ones they do not. Macro funds trade on views about interest rates, currencies and economies. Credit funds trade company debt. Event-driven funds trade around mergers and restructurings. Quant funds use models and data to trade systematically. Multi-manager platforms run many small teams, called pods, each with its own money and risk limits, and are among the biggest hedge fund employers in London.
Junior roles include investment analyst supporting a portfolio manager, quant researcher, execution trader, risk and operations. Teams are small and results are measured directly. Many funds hire people after a couple of years at a bank, but the quant and multi-manager firms increasingly run their own graduate and intern programmes.
Open jobs
| Job | Firm | Level | Stage | Posted |
|---|---|---|---|---|
| Hedge fund |  Selby Jennings | Manager | 5+ years | 2 weeks |
| Hedge fund · Futures clearing |  Macquarie | Manager | 5+ years | 5 months |