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Global hedge fund assets exceed $2 trillion

Date: Tuesday, March 29, 2011
Author: Lawrence Delevingne, Absolute Return + Alpha

Industry assets increased 11% in 2010, returning to 2006 levels.

Global hedge fund assets increased by more than 11% in 2010 to reach $2.022 trillion by yearend, up from $1.820 trillion a year earlier, according to HedgeFund Intelligence. The latest gains bring industry assets back to their 2006 level, but below the peak of $2.6 trillion achieved in 2007.

The survey measured the assets managed by traditional, single-manager hedge funds, including funds in the Global Billion Dollar Club—which measures the assets of firms managing $1 billion or more in assets—and smaller hedge funds tracked by HedgeFund Intelligence, which manages the EuroHedge, AsiaHedge and AR (Americas.funds) databases, among others. (When counting UCITS funds, the global total rose to $2.099 trillion, an increase of 13%.)

The world’s largest hedge funds continue to manage the majority of the industry’s capital. Collectively, the Global Billion Dollar Club now manages more than $1.7 trillion—or more than 84% of total industry assets, up from 82% at yearend 2009.

As in previous years, the majority of industry assets are still managed in the United States, where there are now 220 firms that manage hedge fund assets of $1 billion or more (see who’s who in AR’s recently released Billion Dollar Club here). New York is still the industry center, housing 128 of those firms, far ahead of second place London, which hosts 63 billion dollar-plus firms. The biggest change came in Asia, where the number of billion dollar plus firms based in Hong Kong rose from 6 to 11.