esÂ·trange. tr.v. esÂ·tranged, esÂ·trangÂ·ing, esÂ·trangÂ·es. 1. To make hostile, unsympathetic, or indifferent; alienate: The months of bickering estranged her from her family. 2.
Hedge fund. A hedge fund is an investment fund that pools capital from accredited individuals or institutional investors and invests in a variety of assets, often with complex portfolio-construction and risk-management techniques.
From a practical and legal point of view, there are differences between mutual and hedge funds. A mutual fund is a collective investment scheme, consisting of shares in a variety of bonds, stocks, securities and other short-term money market investments. This type of fund usually has a fund manager.