TOOLS AND TECHNIQUESINVESTMENT INSTRUMENTS AND MARKETSPERFORMANCEHEDGE FUND STRATEGIESFIXED-INCOME ARBITRAGEEQUITY MARKET-NEUTRAL (STATISTICAL ARBITRAGE)CONVERTIBLE ARBITRAGEMERGER (RISK) ARBITRAGEDISTRESSED SECURITIESEVENT-DRIVEN STRATEGIESMACRO INVESTINGSECTOREMERGING MARKETSSHORT SELLINGUNIVERSE OF HEDGE FUND STRATEGIES