Hedge funds and alternative investments section

CFA Level II Alternative Investments
#1

Hi to everybody,

How is it that Hedge Funds are not part of alternative investments topic?

Have you any idea?

Thanks

#2

Hedge Funds typically invest in Equity and Fixed Income markets, which are considered the most common forms of investment in financial markets. Whereas, alt investments include Private Equity, Real Estate and Venture Capital. These investments typically are not available to retail investors and require large amounts of capital along with being highly illiquid.

Most HFs you read about in the Journal are Equity focused. Though that may not always be the case, they usually do not facilitate investments in alternatives.

#3

They are but in L3 curriculum. Why is so, ask the authors of CFAI curriculum, not AF members.