What does AUM mean?
Assets under management: the total value of the money a fund or firm manages for its investors. On HedgeFollow, a fund's AUM is the value of the holdings in its latest 13F, which leaves out its cash, shorts, bonds, private investments and most non-US stocks.
That makes a fund's 13F value different from the AUM it reports elsewhere, sometimes very different. A fund that borrows to invest can have 13F holdings worth more than its AUM; a fund that invests mostly abroad, or in bonds, much less.
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