Alternative investment assets under administration as of the end of Q2 2013 totaled $5.90 trillion, according to the latest Hedge Fund Administrator Survey from eVestment.
Single-manager hedge funds saw their AUA grow 13.31% over the monitored period to $3.41 trillion. State Street, Citco and and BNY Mellon led the field, accounting for a combined $1.66 trillion in AUA.
Funds of hedge funds administered $812.5 billion as of Q2 2013, across 33 participating administrations firms and 4,036 funds, up from $789.6 billion for the same 33 firms in 2012.
“eVestment continued to see net investor redemptions for commingled funds of hedge funds,” said Peter Laurelli, vice president and head of industry research, eVestment. “Six months into 2012, we estimated funds of hedge funds allocations accounted for 35.09% of single-manager hedge fund assets. That figure dropped to 33.86% as of end of year 2012 and 32.67% after the first half of 2013. eVestment estimates funds of hedge funds experienced net outflows of $41.79 billion in the six months through June 2013.”
Thirty-eight firms participated in the semi-annual survey; the five largest of which accounted for 67.32% of total administered hedge fund assets.