PT - JOURNAL ARTICLE ED - , ED - , TI - The Hedge Fund “Industry” and Absolute Return Funds AID - 10.3905/jai.1999.318932 DP - 1999 Mar 31 TA - The Journal of Alternative Investments PG - 11--27 VI - 1 IP - 4 4099 - https://pm-research.com/content/1/4/11.short 4100 - https://pm-research.com/content/1/4/11.full AB - The hedge fund industry encompasses a wide range of possible investment strategies. Each of these strategies has unique risk and return opportunities in various market environments. In this article, the hedge fund industry is reviewed in general and one particular strategy, market neutral, is analyzed. The ability of various market neutral or absolute return funds to perform well in hostile market environments is examined.