CONTENTS INTRODUCTION; Research Methodology; Chapter 1; 1.1 CONCEPT; 1.2 KEY FEATURES OF HEDGE FUNDS; 1.3 WHY HEDGE FUNDS; 1.4 VARIOUS HEDGE FUNDS STRATEGIES; 1.5 TECHNIQUES USED IN HEDGE FUNDS; 1.6 HOW ARE THEY ORGANIZED?; 1.7 WHAT DO HEDGE FUNDS DO?; Chapter-2; 2.2 THE EMERGING ISSUES; 2.2 LONG TERM CAPITAL MANAGEMENT DEBACLE AND RESPONSE; 2.3 THE RESPONSE; 2.3.1. The Working Group Report; 2.3.2. The Improving Counter Party Risk Management Practice Report; 2.3.3. The GAO Report; 2.3.4. The International Organisation of Securities Commissions Report (IOSCO) Report; 2.3.5. The Hedge Fund Group Report; 2.3.6. The Basel Report; 2.4 LEGISLATIVE RESPONSE; 2.4.1. The Baker Bill; 2.4.2. The Markey/Dorgan Bill; 2.5 STATUTORY REGULATIONS IN THE US; Chapter-3; 3.1 INTRODUCTION; 3.2 LEGAL AND REGULATORY ISSUES; 3.2.1 FRANCE; 3.2.2 GERMANY; 3.2.3 ITALY; 3.2.4 NETHERLANDS; 3.2.5 SPAIN; 3.2.6 SWITZERLAND; Chapter-4; 4.1 INTRODUCTION; 4.2 CONCEPT; 4.3 INFLUENCE OF FIIs IN INDIAN MARKET; 4.4 THE CONCERNS; 4.5 THE OTHER SIDE; 4.6 REGULATORS' REACTION AND RESPONSE; 4.7 CONCLUDING REMARKS; Chapter-5; 5.1 REGULATING THE HEDGE FUNDS; 5.2 SELF REGULATIONS; 5.3 HEDGE FUNDS REGULATIONS IN INDIA; 5.6 SEBI DRAFT REGULATIONS ON HEDGE FUNDS; CONCLUSION; BIBLIOGRAPHY;