Fewer Funds Reporting To Databases, But AUM Up

Aug 27 2014 | 1:35pm ET

Fewer hedge funds reported to commercial databases in 2013 but industry assets were up, according to a new eVestment report.

The hedge fund data provider combed through 10 commercial databases and discovered that in 2013 a total of 9,247 unique hedge funds and CTAs reported, down from 10,149 a year earlier.

Industry assets under management, on the other hand, increased over that period by $248.8 billion to $2.664 trillion.

Firms with over $1 billion AUM accounted for only 11.9% of all reporting firms but 83.3% of all reported AUM.

The number of reporting funds with over $1 billion increased 13% year on year to 446. The number of reporting funds with between $750 million and $1 billion increased 44% to 161 while all smaller fund groups increased by three or fewer funds—or declined.

All the growth in reported AUM came from funds managing more than $750 million, as reported assets in the universes of smaller funds declined.
The U.S. remains the dominant source of both reported hedge fund products and assets although China and Brazil also have healthy alternative industries.
The number of funds of hedge funds declined 11% to 2,074 between 2012 and 2013 and reported FoF AUM was down 3% to $495.1 billion.

Only 64% of the reporting universe supply information to one database, while 88% of funds report to three or fewer.

eVestment said the report was intended to highlight the importance of using multiple databases for industry analysis and to provide “the most comprehensive look at the size of the industry in terms of AUM and number of funds.”

The report looks at a universe of nearly 92,000 hedge funds, CTA/managed futures and fund of hedge funds products.

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