Hedge Fund Fundamentals


Level 2

Approx 3.50h to complete

100% online and self-paced

Subscribe to get access to CMSA® and other programs

From $497/year

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Introduction to Hedge Funds Course Overview

This Introduction to Hedge Funds course covers a comprehensive overview of hedge funds. You will learn the common characteristics of hedge funds, how they are structured, and the mechanics of management and performance fees. You will also learn how to measure performance using various metrics such as the Sharpe and information ratios. Lastly, the course provides insight into several hedge fund strategies which are either directional, arbitrage, or global macro. After completing this course, you will have a better understanding of the hedge fund universe and the role they play in the financial markets.

Modules explored: 

  • Hedge fund overview
  • Hedge fund structures
  • Performance measurement
  • Directional strategies
  • Arbitrage strategies
  • Event-driven strategies

Introduction to Hedge Funds Learning Objectives

Upon completing this course, you will be able to:

  • Define the characteristics associated with a typical hedge fund
  • Describe the structure of a hedge fund, the services it requires, and the investors it attracts
  • Calculate management and performance fees based on high-water mark and hurdle clauses
  • Assess hedge fund performance using key metrics such as the Sharpe and information ratios
  • Understand the short-selling process and long/short equity strategies
  • Identify fixed income arbitrage and event-driven strategy opportunities

Introduction to Hedge Funds Is an Elective Course of CFI’s CMSA® Program

CFI’s Capital Markets & Securities Analyst (CMSA)® program covers all the basic, intermediate, and advanced topics about sales and trading, investment banking, and asset management. This program teaches you trading strategies used in the finance and capital markets industry. It is ideal for students who want to learn how to trade different asset classes. The program is completely online so you can take it at your own pace, from anywhere in the world.

Common career paths for students who take the CMSA® are Sales & Trading, Asset Management, Wealth Management, Treasury, Risk Management, and other capital markets careers.

Who Should Take This CMSA® Course?

This Introduction to Hedge Funds course is perfect for anyone interested in learning a comprehensive overview of hedge funds. These types of funds are becoming increasingly popular, so it's essential to understand the role these institutions play in the financial markets. Anyone interested in a career in the capital markets should ensure they understand how hedge funds operate, how they are structured, and how they impact the markets.

What You'll Learn

Course Summary

Become a certified Capital Markets & Securities Analyst (CMSA)®

Hedge Fund Fundamentals is part of the All Capital Markets & Securities Analyst (CMSA)® courses, which includes 29 courses.

Capital Markets & Securities Analyst (CMSA)® Certification
  • Skills Learned Trading strategies used in the finance and capital markets
  • Career Prep Work in capital markets, whether on the buy-side or the sell-side

Path To Certification

Prep Courses

5 courses from beginner to intermediate level.


Core Courses

8 courses from beginner to intermediate level.


Elective Courses

16 courses in advanced and intermediate levels.


Get Certified

Submit your CMSA® checklist and order your certificate.

CMSA Certificate 04Required

Join Our Community

Get access to the Global Corporate Finance Society.


How the Certification Works

Capital Markets & Securities Analyst (CMSA)® courses are offered 100% online, allowing you the flexibility to start the Capital Markets & Securities Analyst (CMSA)® program anytime and learn when it’s most convenient for you.

The program is a part of the All Access Subscription, which includes all programs and courses.

CFI courses are designed by instructors with over 21 years of financial analyst training experience.

Students must complete all core and 7 elective courses (13 in total) and demonstrate mastery of the topics through successful completion of course materials, quizzes, and assessments.
Within 48 hours of program completion, your Blockchain Verified (CMSA)® Certification will be emailed to you.

What Our Students Say

Good for all investors
A great course for hedge funds

Kwong Sang Yeung


Abdaullah AlHammad

No exercises were given

Alhassan Ndekugri

Introduction to hedge funds
Good content with easily understandable examples. Good presentation by the instructor.


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