POOLED FUNDS: BENEFITS AND PITFALLS by Sharon J. Morrisroe 1 I. INTRODUCTION The use of pooled funds as an intermediary investment vehicle between the portfolio manager and the client has increased considerably in recent years. With in-house managed pooled funds, … Hedge Funds - Investopedia a mutual fund, a hedge fund is a pooled investment vehicle that makes investments in equities, bonds, options and a variety of other securities. It can also be run by a separate manager, much like a sub-advisor runs a mutual fund that is distributed by a large mutual fund company. That, however, is basically where the similarities end. The