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Alternative Market Briefing

Hedge fund administrators continue to consolidate - eVestment

Wednesday, March 27, 2013

Bailey McCann, Opalesque New York: Consolidation among the largest administrators continues, driven by regulation, demand for more sophisticated services, and the rise of direct institutional investment in hedge funds according to the 12th annual Q4 Hedge Fund Administrator Survey, conducted by eVestment. The survey is a semi-annual publication and a measuring stick of the administration industry’s hedge fund and alternatives businesses, including regional representations. Firms were asked to submit total and region specific assets under administration across single manager hedge funds, funds of hedge funds, managed accounts, UCITS compliant hedge funds and other alternatives.

The survey includes 37 firms with $2.931tn in single manager hedge fund assets under administration (AUA), among 9,379 hedge funds.

State Street, Citco and BNY Mellon topped the league tables with a combined $1.487tn in AUA while the top five firms reported $2.025tn in single manager hedge fund AUA. Single manager hedge fund AUA grew by 5.6% in the second half of 2012, a continuation of the increase in AUA seen in the prior survey. Fund of hedge funds AUA growth lagged again compared to hedge fund AUA growth with administrators posting an aggregate 1.3% increase in the space.

In terms of strategies, equity strategies suffered outflows estimated to be $26.95bn over the cou......................

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