P&I Survey: Hedge Fund Asset Growth Outpaces That of Funds-of-Funds

Sep 18 2015 | 4:31pm ET

Hedge funds have outpulled their fund-of-funds peers when it comes to asset growth during the year ended June 30, according to a new survey by Pensions & Investments.

While a majority of hedge fund and hedge funds-of-funds managers enjoyed asset gains during the period, P&I found a wide disparity existed in terms of the growth rates between hedge fund and hedge funds-of-funds managers as well as between the best and worst firms.

70% of hedge fund managers noted a gain in worldwide assets year-over-year, data from P&I’s annual survey show, compared to only 55% of hedge funds-of-funds managers.

The 128 single and multi-strat hedge fund managers responding to the survey managed a total of $1.35 trillion as of June 30, P&I's survey showed, the 25 largest of which managed a little more than half the total ($730.5 billion).

Meanwhile, hedge funds-of-funds worldwide managed $441.2 billion as of June 30, $381.1 billion of which was managed by the 25 largest funds-of-funds managers. 

The preference among institutional investors for direct hedge fund investments is partly behind the drain on hedge funds-of-funds assets, noted P&I. Assets in funds-of-funds worldwide have fallen 37% from the in June 2008 of $699.9 billion, according to P&I. 

The full results of the annual survey, as well as additional analysis, will appear in the Sept. 21 issue of Pensions & Investments

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