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Komfie Manalo, Opalesque Asia:

The number of people employed by the hedge fund industry rose to nearly 400,000 across the globe, or a sharp rise of 33% from 2010 data, a joint study by lobby group Alternative Investment Management Association (AIMA) and data provider Preqin showed.

Preqin and AIMA said that the global hedge fund management firms employ some 115,000 staff and around 275,000 at businesses that provide services to hedge funds, including lawyers, auditors, administrators and prime brokers.

AIMA Chief Executive Jack Inglis commented, "The industry continues on a strong long-term growth trajectory. Back in December of 2010, when we last assessed this, the industry managed around $1.6 trillion in assets and employed about 300,000 people worldwide. Today, it manages around $3 trillion on behalf of more than 5,000 institutional investors and employs about 400,000 people. Many of these jobs are highly skilled."

The global employment growth represents an increase of 30% and is in line with a 32% increase in the number of hedge fund management firms worldwide to around 5,500 since 2010, according to Preqin.

Amy Bensted, head of hedge fund products, Preqin, added, "The market has diversified over recent years, and the hedge fund industry is an increasingly global one. Although the U.S. remains the largest center for hedge fund employment, significant numbers of people now work in hedge fund firms or service providers in financial hubs across the globe. ......................

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