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Alternative Market Briefing

Largest funds continue to dominate hedge fund industry, according to PerTrac’s annual database study

Wednesday, May 02, 2012

Beverly Chandler, Opalesque London: PerTrac has published the latest edition of its annual database study and found that the so-called "billion dollar club" is still the great colossus of the hedge fund world. While single manager hedge funds with greater than $1bn under management account for just 3.9% of reporting hedge funds, they control about 60% of the total single manager hedge fund assets., according to the study.

PerTrac found that 322 single manager hedge funds reported having assets under management of over $1bn in 2011, for a total of $1.08tr in assets under management. The firm says: "Despite their dominance, there was only a 1.40% year-over-year increase in the assets of billion-dollar-plus funds in 2011 based on those that reported their results".

"The flight to size continues for hedge fund investors," said Jed Alpert, Managing Director of Global Marketing at PerTrac. "Investors continue to view larger hedge funds as a better, safer bet even though industry data, including our own, indicates that smaller funds have generally outperformed larger ones."

PerTrac also found that the institutional bias towards size also applied to funds of hedge funds. The number of reporting funds of hedge funds managing greater than $1bn in assets climbed by nearly 18% in 2011 and yet overall, the number of funds of hedge funds declined 4.80% in 2011 to 3,388.

The study also found that single manager ......................

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