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Benedicte Gravrand, Geneva: In light of the recent publication of the latest French hedge fund directory and 2008 survey by Asterias (see our ‘Services’ section below), Opalesque acquired further details on the state of the industry in France - the second largest hedge fund market in Europe after the U.K. - from Asterias’ managing director Sophie van Straelen.

Whereas the world’s hedge fund assets are estimated at $1.8 trl (HFR) or more, the European assets amount to $500bln (EuroHege), of which $73.76bln are run onshore in France (Asterias), an increase of 23% in 2007.

The French hedge fund landscape Asterias, the hedge fund research company that focuses on the European industry, found that the key trend in 2007 was the numerous mergers and acquisitions that took place and the arrival of new talents. The survey overviews 208 single manager funds and 305 funds of funds. Banks run most of these funds’ assets (57%) followed by boutiques (18.8%). Nearly 60% of the funds are domiciled in France, followed by Luxembourg and the other usual domiciles.

Single funds The strategies most often employed by single manager funds are fixed income arbitrage and long-short equity.

Asterias noted that the AUM in ARIA funds (funds with simplified investment rules) grew slightly in 2007 yet remained relatively modest; most ARIA funds have less than €50m under management. In addition, these typ......................

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