A 130-30 mutual fund has long positions and short positions in its portfolio. Specifically, in a 130-30 mutual fund, the fund is long 100% of its assets, and in addition it shorts 30% of the value fund. Cash received from short sales is used to initiate long positions. For example, if a fund is worth $10,000, it would invest the $10,000 in equity and then would short $3,000 worth of equity.
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