GLOBAL HEDGE FUND INDUSTRY EMPLOYS 300,000 PEOPLE - AIMA |
Date: Friday, December 10, 2010
Author: AIMA News Release
The world’s hedge fund industry employs an estimated 300,000 people. That’s
according to the Alternative Investment Management Association (AIMA) – the
global hedge fund industry association. It’s the first time the number of jobs
created by the sector globally has been assessed.
AIMA produced the figures after surveying its members internationally. AIMA has
more than 1200 corporate members in more than 40 countries. Its hedge fund
manager members manage in excess of 75% of global hedge fund assets and 70% of
global fund of hedge funds assets.
The regional breakdown of the figures is 240,000 in North America, 50,000 in
Europe and 10,000 in Asia-Pacific. The totals include both those employed
directly within the hedge fund sector and those jobs generated by the industry
among service providers like administrators, lawyers and accountants. The ratio
of direct jobs to indirect jobs was found by AIMA to be generally 1:2, so the
number of direct jobs within the industry globally is 100,000 with a further
200,000 indirect jobs generated by the industry.
AIMA CEO Andrew Baker said: “It is striking that hedge fund industry managers
generate an additional two jobs among service providers for every job in the
sector. That means that the industry is creating significant additional
employment in the jurisdictions in which it operates, including in the EU,
Switzerland, the United States and Canada, Hong Kong, Singapore, Japan and
Australia.
“The estimated figure of 300,000 jobs generated globally is a significant one
and it demonstrates the importance of the industry to the broader economy in the
many jurisdictions in which the industry is based. It shows that the hedge fund
industry provides value not only to its investors and to the markets in which it
operates, but to the communities where its employees work.”
For media enquiries, please contact Christen Thomson, AIMA’s Director of
Communications. Tel: +44 (0)20 7822 8380
Email: cthomson@aima.org