Hedge

A hedge is a fence or boundary formed by closely growing bushes or shrubs.

But we know it better as a way of protecting oneself against financial loss or other adverse circumstances.

I suppose a bet on either side of the fence became a ‘hedge’ because the verb ‘fence’ had already been stolen.

But it would have been quite appropriate to use ‘fence funds’ given the behaviour of a few of the hedge fund managers that I know.