December 11, 2006
Hedge Fund Assets: $1.2 Trillion
Recent reports have it that hedge fund assets have reached $1.2 trillion and the industry is just beginning to flex its muscle. The 2006 Hennessee survey also found that the number of hedge funds grew 10 percent, from 8,050 to 8,900. The survey was conducted on 440 hedge funds from 97 management companies representing over $256 billion in assets. Redherring.com reports:
“Hedge funds are evolving in a manner similar to that of investment banks of old,” said Charles Gradante, managing principal of Hennessee Group. The consultancy’s 12th annual hedge fund manager survey reported that the industry’s assets grew 21 percent from $1.009 trillion as of June 30, 2005, to $1.2 trillion by Oct. 31.
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