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Laxman Pai, Opalesque Asia:

The alternatives industry has just set a new record: global assets under management (AUM) have surged to $10.31tn.

According to Preqin, the industry is now well on its way to meeting Preqin's 2018 forecast of $14tn in AUM by 2023.

Mark O'Hare CEO, Preqin said: "Global markets have continued their upward path, and the outlook is certainly challenging. There are at least two immediate lessons for us all as investors, fund managers, and analysts. First, it's futile trying to time the market - miss the last six months of a typical bull market and you forego on average a 20% return. Second, it's wiser to invest in a robust way that caters for uncertainty and the challenging returns environment that may lie ahead."

"That is precisely what major institutional investors around the world did in 2019. Their plans for 2020 and beyond are to stick with the program," he added.

Alternative assets have delivered a good relative performance in both bull and bear markets. Recognizing this, investors are continuing to put their faith in alternative assets, said the report.

"The result is steadily rising allocations, helping the industry to smash that $10tn record. What's more, the universe of active investors in alternatives continues to expand," he pointed out.

In January 2019, Preqin Pro tracked a total of 11,280 institutions with active alternative asset investment programs. As of January 2020, that number ......................

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