Risk and Return are moderate relative to other investments. The equities invested in are proportional to those in the given index. Time horizon, risk and return are similar to equity funds. Invests is companies that operate in the same industry. For instance, a financial services fund would invest in banks, insurance and other finance companies.
Time horizon is similar to equity funds.
Risk and return will depend on the sector invested in. Invests in derivatives such as options and forward contracts. The time horizon is similar to equities. The risk and return can be considered very high. Hedge funds are uncommon mainly because of the risks involved and the chance of losing money is high.