Q1. Calculate the gross leverage, net leverage, long-only leverage for the following long- only fund, long-short fund, general levered fund, dedicated short fund. (8 points) Long-only fund: Hedge fund manager raises $10,000, buys securities worth $10,000. Further borrows 50,000 and invests in securities. Long-short fund: Hedge fund manager raises $10,000, shorts securities worth $50,000, invests all cash in long securities. General levered fund: Manager raises $10,000, shorts $8,000 worth of securities, borrows $2,000, invests all cash in long securities. Dedicated Short fund: Manager raises $10,000, uses it as collateral to borrow $50,000 worth of stock. All proceeds are invested in cash.