11.   Hedge funds are unregulated portfolios that permit managers to invest with few rules.

12.   Hedge funds are targeted to wealthy investors, and their managers generally invest their own money in the funds and get paid based on performance.

13.   Hedge funds are portfolios geared for wealthy individuals in which managers invest their own money in exchange for part of the profits.

14.   However, the UAT manager can invest overseas as well as in non-equity securities if it seems appropriate.

15.   Investors better hope for continued success since the managers invest in so few stocks they leave themselves little room for error, he said.

16.   It does allow its managers to invest in funds that Goldman manages.

17.   Managers are also investing in bank stocks.

18.   Money managers are investing their savings in stocks of companies large and small, with an emphasis on computing and telecommunications.

19.   Pension fund managers still can invest in mutual funds that hold South Korean bonds.

20.   Some fund managers also invest in bonds sold by local companies, but these are generally considered riskier.