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Understanding how and why we use cookies

We use cookies on our website (firstconinvest.com) to create the most effective website possible for our users. Among other things, the cookies we use allow us to improve your experience when using our website and to ensure the website performs as you expect it to.

This Cookie Policy explains what cookies are, how we use them on Firstconinvest.com and what benefits they bring.

On local websites which are linked from this site, cookies may be used to allow you to log on to your hedge fund account, choose log-in preferences, and apply for products and services online and use financial tools. Please bear in mind that Firstconinvest Group members will have their own privacy and cookie policies that will govern their use of cookies on local sites and any information you submit on a local site. Please read carefully any local site and/or product terms and conditions before using the local site or product.

As you may be aware, recent legislation requires websites to gain visitors' consent to use certain cookies. As a group, Firstconinvest is working to implement appropriate changes to its websites as soon as possible.

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In the securities world, the term "Hedge Fund" does not necessarily imply any use of "hedging" as commonly understood; for example where commodity traders use options to "hedge" a commodity position.

Presently, in the securities world the term "hedge fund" refers to any type of Private Investment Company operating under certain exemptions from registration under the Securities Act of 1933 and the Investment Company Act of 1940.

"Hedge Funds" are often referred to as "alternative investment vehicles" and are tailored to the needs of sophisticated, high net worth private investors. A Hedge Fund is generally structured as a limited partnership having a general partner responsible for the investment activities and day-to-day operation of the fund, and limited partners who are the investors supplying capital but not participating in trading or operations of the fund.

The limited partners have limited liability. That is, their exposure to loss is limited to their investment. The General Partner has unlimited liability and is liable for the activities of the partnership. The General Partners principals limit their liability through the use of a corporation or limited liability company as the General Partner. (Of course, the principals cannot limit their liability from the application of the anti fraud provisions of the Federal Securities Laws.) All of the investors' capital is pooled and is utilized by the General Partner or Investment Manager to implement its trading or investment strategy.

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