Certified Fund Specialist (CFS)

A 'fund of funds' in the context of alternative investments refers to:

A mutual fund that invests only in bond funds A pooled vehicle that invests in multiple underlying hedge funds or private equity funds An ETF that tracks an index of alternative asset managers A closed-end fund with a fixed number of shares

Correct Answer:

A pooled vehicle that invests in multiple underlying hedge funds or private equity funds

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