MAJOR STYLES

Active Balanced
Style of investment management which aims to provide both income and capital appreciation while avoiding excessive risk and outperforming a particular market index or benchmark.
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Active Currency Management
An alternative investment strategy seeking excess returns from active currency management and taken independently of other investments. It is also known as active currency management alpha. The lack of correlation with underlying assets is intended to reduce portfolio risk. 
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Active Equity
Style of investment management, the goal of which is to outperform a particular index or benchmark through asset allocation and/or the selection of specific equities.
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Active Fixed-Income
Style of investment management, the goal of which is to outperform a particular index or benchmark through asset allocation and/or the selection of specific bonds and other securities paying a specific interest rate.
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Alternative: Hedge Funds
Funds aiming for absolute returns rather than beating a benchmark and which tend to use aggressive strategies including selling short, leverage, program trading, swaps, arbitrage, and derivatives. Hedge funds are exempt from many of the rules and regulations governing other mutual funds.
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Alternative: Private Equity
Equity capital invested in a private company.
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Cash
Liquid investment in short term money markets.
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Currency overlay
A strategy to separately manage the exchange rate risks associated with the holding of foreign securities. 

Passive currency overlay neutralizes currency risk associated with holding securities in foreign currencies. There is no currency risk and no additional return.

Active currency overlay seeks to make an additional return by taking a view on currencies, but, as a result, only partially neutralizes currency risk. This is a higher risk, higher return strategy. 
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Multi Asset
Mandate to invest in more than one asset class.
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Passive Balanced
Style of investment management which aims to provide both income and capital appreciation while avoiding excessive risk and following a particular market index or benchmark. Passive management offers limited portfolio maintenance at a lower cost.
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Passive Equity
Style of equity investment management which aims to provide both income and capital appreciation while avoiding excessive risk and following a particular market index or benchmark. Passive management offers limited portfolio maintenance at a lower cost.
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Passive Fixed-Income
Style of management investing in bonds and other securities paying a specific interest rate which aims to provide both income and capital appreciation while avoiding excessive risk and following a particular market index or benchmark. Passive management offers limited portfolio maintenance at a lower cost.
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Real Estate
Investments in land, including the air above and the ground below, and any buildings or structures on it. Also known as realty.
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