Offering memorandum (O.M.)

A legal document that states the objectives, risks, terms and investment parameters of a specific fund.  This includes items such as the financial statements, management biographies, detailed description of the business, etc.

Offshore fund

A fund that is managed and domiciled in a foreign country.

Opportunistic

Opportunistic fund strategies include such directional and highly flexible investment styles as Global Macro, Equity Long/Short, Equity Non-Hedge, Emerging Markets and Short Selling.

Options

A privilege sold by one party to another that offers the buyer the right, but not the obligation, to buy (call) or sell (put) a security at an agreed-upon price during a certain period of time or on a specific date.