WEST PALM BEACH, FL (HEDGECO.NET) – The total investment assets of the worlds top multi-manager hedge fund companies have surged to new heights, according to a new published study. Alpha magazine�snew released data, shows that the total managed assets of the 50 biggest hedge fund managers has grown by 70% to $358 billion in 2004. This data stood at $210 billion in 2003, according to the newsurvey.
Details of the study show that Swiss bank UBS AG (UBS), based in Zurich, is still at the top of the 50 biggest managers of funds of hedge funds, as was in 2003 according to Alpha Magazine. Such growth continues to baffle hedge fund analysts because 2004 has seen declining results for the global hedge funds as compared to previous years.
Stephen Jupp, Director of Quantitative Research at investment firm Tremont Capital Management, Inc thinks this trend is a reflection of a surge in demand of hedge fund management instruments particularly from institutional investors. According to Jupp, the new hedge fund inflows have more than doubled from $45 billion during the first nine months of 2003, to $106.6 billion during the first 9 months of 2004.
Alpha magazine also said that 3 of the largest 5 hedge fund of funds are based in Europe. MAN Investments is still the largest publicly traded hedge fund manager in the world according to the survey. The other two largest managers making the list were Permal Asset Management, and Ivy Asset Management Corp., both are based in New York. The total Capital managed by the top five managers is:
1. UBS $38,388
2. Man Investments $18,586
3. Union Bancaire Privee $15,876
4. Permal Asset Management $15,099
5. Ivy Asset Management $14,130
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: [email protected]
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