i'm looking for a shortcut or less labour intensive way of grouping certain observations within the same variable, then output in a new column depending.

```
axa$type[axa$instrument_type == "CORPORATE BONDS" | axa$instrument_type == "GOVERNMENT BONDS"] <- 'BONDS'
axa$type[axa$instrument_type == "FOREIGN CURRENCY"] <- 'Cash'
axa$type[axa$instrument_type == "FUT-FIXED INCOME"] <- 'Derivatives'
axa$type[axa$instrument_type  ==  "INTEREST RATE SWAP"] <- 'Derivatives'
axa$type[axa$instrument_type == "MUTUAL FUNDS"] <- 'Funds'
axa$type[axa$instrument_type == "SHORT TERMS"] <- 'Cash Equivalent'
axa$type[axa$instrument_type == "CMO"] <- 'Other Fi'
axa$type[axa$instrument_type == "NON-SECY ASSET STOCK"] <- 'Other'

```

the code searches for certain observations,then will output in column axa$type, with the desired output: "cash", "derivatives".

is there any way of making this code shorter/compact.
preferably using the Data table Package