Hedge Funds, Database Listings Grow In ‘06

Feb 26 2007 | 11:36am ET

The hedge fund universe grew to some 19,800 distinct products managing $1.41 trillion, according to a review of hedge fund databases released by PerTrac Financial Solutions today. Fund of hedge funds now number approximately 6,100, with about $700 billion in assets.

According to the annual study, about 4,150 of the 13,675 single-manager funds are clone funds. And regulators will be heartened to know that, of the roughly 20,000 funds in databases, more than three-quarters reported performance data in 2006—10,200 of the single manager funds. But the databases aren’t perfect.

“As with prior years’ studies, PerTrac noted significant overlaps between the various databases,” PerTrac managing director Meredith Jones said. But “despite overlap between and widespread growth among the databases, relatively few hedge funds and funds of hedge funds report to more than two or three databases, and almost none report to all 12 databases.”

Only approximately 250 single-manager funds have crossed the $1 billion hurdle, while over one-third remained mired with less than $25 million, according to the study. Some 65% of the funds are offshore offerings, with the remainder being U.S. onshore funds.

A look at the dozen databases tracked by PerTrac showed a 61% jump in hedge funds in databases last year—a 68% increase in single-manager funds and 46% in funds of hedge funds. Sorted for duplication across databases, last year saw a 36% jump in hedge fund listings.

The study also showed that there are about 1,400 commodity trading advisors with approximately $150 billion in assets under management.


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