Single-manager hedge funds recovered in 2010 with assets under management (AUM) increasing 11% over 2009 to USD1.6 trillion and 1,184 new funds launching representing a 51% increase over the prior year, according to PerTrac’s latest hedge fund study.
Sizing The 2010 Hedge Fund Universe, also found that total AUM for single-manager hedge funds and fund of funds was USD2.1 trillion in 2010.
The 3,196 fund of funds in the study – approximately the same number as in 2008 – had USD518 billion under management in 2010. This represents a 10.5% decrease from 2009 and a steep 31% decline from 2008 when USD750 billion was reported.
Commodity Trading Advisors (CTAs), the third category measured in the study, attracted investors in 2009 as a haven from stocks and bonds as their numbers peaked that year at 2,425. In 2010, the number of CTAs dropped to 1,997 which is approximately the same level as in 2008.
“As we look across the fund universe, one clear area of growth has been in the number of single-manager hedge funds, and we see that momentum continuing in the future,” says Lisa Corvese, Managing Director, Global Business Strategy at PerTrac. “Overall, the study demonstrates a rebound — with the industry as a whole getting closer to prior peaks.”
The PerTrac study of hedge funds is unique because it is the only study that aggregates information from 10 leading global databases, allowing it to obtain a holistic picture of the industry. With its proprietary analytics software that removes duplicative fund data, PerTrac provides the most precise and most comprehensive information about the number of funds and assets under management.
