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EuroHedge

GlobalBriefing
HedgeFund
Intelligence

Volume 4 Issue 4 February 2011 A HedgeFund Intelligence publication

monthly performance data, News and analysis for the global hedge fund industry

January proves a difficult start to the year


Global Indices (est) Global summary
Medians Means Hedge funds have entered 2011 with restrained performance, as most
Strategy Jan-11 YTD Jan-11 YTD strategies inched forward only slightly in January. The HedgeFund
Equity 0.24% 0.24% 0.02% 0.02%
Intelligence Global Composite Index, which tracks nearly 4,000
Macro -0.40% -0.40% -1.49% -1.49%
Managed Futures -0.38% -0.38% -0.85% -0.85%
single-manager hedge funds, produced a median gain of 0.28% in
Event Driven 0.75% 0.75% 1.05% 1.05% January against a 2.26% rise in the MSCI World Index (net).
Emerging Market Debt -1.03% -1.03% -1.57% -1.57%
Emerging Market Equity -1.17% -1.17% -1.02% -1.02% Americas, Europe, Asia
HFI Global Composite 0.28% 0.28% -0.13% -0.13%
Funds in the Americas rose 0.48% in January, against a 2.26% gain for
Figures correct as of 7 February 2011
the S&P 500 Index. European funds gained 0.14% against a 3.94% gain
For the latest statistics please view the HedgeFund Intelligence indices
for the MSCI Europe Index (net). Asian funds gained 0.31% against a
decline of 0.36% for the MSCI Pacific Free Index (net).

global composite median indices


Event-driven hedge funds were the best performers globally, gaining
% 0.75% in January. Emerging-market equity funds fell into last place
20 globally, dropping 1.17% for the month.
MSCI The World Index - Net
15
Hedge fund performance this January is not out of line with previous
HedgeFund Intelligence Global Index - M
years. In 2010, the Global Composite Index was up 0.09%, easily
beating a 3.7% decline in the S&P 500 Index. With its 2.26% gain last
10 HedgeFund Intelligence Global Index - M
month, the S&P 500 Index produced its best January since its 2.55%
rise in the first month of 2006.
HedgeFund Intelligence Global Index - E
5
The performance figures cited in this document are early estimates
HedgeFund Intelligence Global Index - E
that were accurate as of 1pm GMT/8am EST on 7 February 2011. For
0
HedgeFund Intelligence Global Index - E
the latest performance figures, please visit the individual indices
(available in the following pages) on the HedgeFund Intelligence site.

-5 HedgeFund Intelligence Global Index - E


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CONTENTS
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1 Global summary
MSCI World Index - Net
2 HFI news, data and research
HedgeFund Intelligence Global Index - Macro
3 The Americas summary
HedgeFund Intelligence Global Index - Managed Futures
HedgeFund Intelligence Global Index - Event Driven 4 Europe summary
HedgeFund Intelligence Global Index - Equity 5 Asia-Pacific summary
HedgeFund Intelligence Global Index - Emerging Market Equity 6 Funds of hedge funds/investor summary
HedgeFund Intelligence Global Index - Emerging Market Debt 7 Absolute UCITS
HedgeFund Intelligence Global Index - Composite
8 Growth of hedge fund industry assets

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GlobalBriefing
Email info@hedgefundintelligence.com Head of research & data Asia-Pacific Managing editor Neil Wilson
Telephone +44 (0) 20 7779 7330 Damian Alexander Wing-Yung Lok nwilson@hedgefundintelligence.com
Fax +44 (0) 20 7779 7331 dalexander@hedgefundintelligence.com data@asiahedge.com Online editor (AR) Josh Friedlander
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Covering the single-manager hedge
fund industry in the Americas

Funds struggle to keep up with equities


Click the links to view. Subscription required unless noted otherwise.
absolute return Indices (est)
Medians Means
Strategy Jan-11 YTD Jan-11 YTD LATEST NEWS & analysis
Mixed Arbitrage Index 0.54% 0.54% 0.56% 0.56% • Shumway to return all outside capital: Full Letter
Commodities Index 2.36% 2.36% 1.43% 1.43%
• Credit Suisse funds of funds chief departs
Convertible & Equity Arbitrage Index 1.46% 1.46% 1.93% 1.93%
• David Tepper joins Robin Hood board, mulls donating majority of
Credit Index 1.45% 1.45% 1.59% 1.59%
Distressed Index 2.50% 2.50% 2.27% 2.27% fortune
Event Driven Index 1.90% 1.90% 1.59% 1.59% • So-so year for stars D.E. Shaw, Brevan Howard
Fixed Income Index 0.44% 0.44% 0.69% 0.69% • HBK rebounds
Global Equity Index 0.44% 0.44% 0.34% 0.34% • Tim Barakett backs Duma's macro fund relaunch
Latin American Debt Index -0.26% -0.26% -0.21% -0.21%
• Investors pulled $2.2 billion from Paulson in 2010
Latin American Equity Index -1.06% -1.06% -2.03% -2.03%
Macro Index -0.39% -0.39% -2.06% -2.06%
• Basswood to launch financials fund
Managed Futures Index -0.38% -0.38% -1.06% -1.06% • SAC, Fortress and GoldenTree push up Manhattan office rents
Mortgage Backed Securities Index 2.81% 2.81% 2.36% 2.36% • Bridgewater reaches $3 billion in new fund
Multi-Strategy Index 1.60% 1.60% 1.47% 1.47%
Technology Index 1.58% 1.58% 1.75% 1.75%
FEatURES & PROFILES
US Equity Index 0.31% 0.31% 0.28% 0.28%
• The reckoning of Centaurus billionaire John Arnold
Composite Index 0.48% 0.48% -0.10% -0.10%
Figures correct as of 7 February 2011 • Taking a closer look at the experts: Hedge funds scrutinize reearch
For the latest statistics please view the Absolute Return indices firms
• The new tech boom? Investors want to party like it’s 1999—but
navigating the markets will be tricky
absolute return median indices vs • ABS 2.0: Waterfall Asset Management returns to its roots
msci world index and s&P 500
%
20 COMMENTARY (Free)
• Groundhog Day: Will the retail consumer see his shadow?
Absolute Return Composit
15 • Bluster and luster: Don’t join the gold rush
Absolute Return U.S. Equit
10
research & rankings
• New Hope for New Funds: New AmericanAbsolutehedge funds garnered
Return Global Eq
$17.40 billion in 2010—a 17% gain over the previous year
5
• New Funds Survey: Assets garnered by new MSCI The
funds World
nearly tripled
to $10.9 billion in the first half of 2010
0
• Billion Dollar Club: Our comprehensive listS&P 500
of all Americas-based
hedge fund firms managing $1 billion or more in assets
-5
• Hedge Fund Report Card: York comes out on top
• Philanthropy: Demand for aid went up during the recession—at
-10
the same time growth of hedge fund philanthropy slowed
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• Prime brokerage: Charting the historic shake up in prime broker


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market share
S&P 500
MSCI World
Absolute Return Composite Index Editorial contacts
Absolute Return Global Equity Michelle Celarier, Editor, AR Magazine, mcelarier@absolutereturn.net
Absolute Return U.S. Equity Josh Friedlander, Online editor, AR Magazine, jfriedlander@absolutereturn.net

For more information on HedgeFund Intelligence products and services, please contact:

Ian Sanderson (US/Europe) James Barfield (US/Europe) Robert Ball (Asia Pacific)
isanderson@hedgefundintelligence.com jbarfield@hedgefundintelligence.com rball@hedgefundintelligence.com
+44 (0) 20 7779 7339 +44 (0) 20 7779 7336 +852 2842 6996

GlobalBriefing is a free monthly publication To subscribe please go to www.hedgefundintelligence.com/globalbriefing February 2011 3


Absolute
UCITS
Covering the single-manager
hedge fund industry in Europe

Composite clings on to positive results


Click the links to view. Subscription required unless noted otherwise.
eurohedge Indices (est)
Medians Means
Strategy Jan-11 YTD Jan-11 YTD LATEST NEWS & analysis
European Equity USD -0.56% -0.56% -0.80% -0.80% • SEB seeds ex-Mizuho fixed-income team in Ovington launch
European Equity GBP 0.50% 0.50% 1.42% 1.42%
• Finisterre adds in-house counsel and moves COO to London
European Equity EUR -0.15% -0.15% -0.01% -0.01%
Macro USD -1.37% -1.37% -0.96% -0.96% • Source rolls out Man GLG broker-ideas fund in ETF format
Fixed Income USD 0.62% 0.62% 0.79% 0.79% • Deutsche and Traxis team up for equity macro UCITS launch
Global Equity USD -0.58% -0.58% -0.43% -0.43%
• Attias leaves Rubicon as founder Brewer resumes CEO role
Managed Futures USD -0.52% -0.52% -0.93% -0.93%
Credit USD 1.47% 1.47% 1.38% 1.38% • New launch pace picks up as confidence starts to flow
Currency 0.91% 0.91% 0.55% 0.55% • Industry recovery quickens as 2010 finishes on a high
Event Driven USD -0.25% -0.25% 0.09% 0.09% • Armajaro to add macro-style resources equity fund with
Mixed Arbitrage & Multi Strategy USD 1.15% 1.15% 1.37% 1.37%
ex-Salomon, Brevan man Glinsman
Equity Market Neutral & -0.78% -0.78% -1.21% -1.21%
Quantitative Strategies USD • Pendragon founders up and running again in event-driven
Convertible & Equity Arbitrage USD 2.70% 2.70% 2.51% 2.51%
Emerging Market Debt USD -1.06% -1.06% -2.03% -2.03%
FEatURES & FUND PROFILES
Emerging Market Equity USD 0.75% 0.75% 0.49% 0.49%
Composite 0.14% 0.14% -0.10% -0.10% • AIMA keeps up pressure on AIFMD as Level 2 work begins
Figures correct as of 7 February 2011 • BTG Pactual aims high as global macro/EM fund races to $1.5bn
For the latest statistics please view the EuroHedge indices • RAB Energy duo dig deep to extract value, bounce back from
2008 blow
eurohedge median indices vs msci europe • Episode rides ‘risk on/risk off’ macro wave
• Wermuth climbs back after 2008 meltdown
%
15 • Prior & Nilsson’s Nordic-focused Idea equity strategy accelerates
MSCI Europe
following bumper 2010 - Net
12
EuroHedge
COMMENT (FREE)Composite Index
9
• Cautious optimism for 2011 as tough 2010 ends on strong note
EuroHedge European Equity EUR Index
6
PERFORMANCE
EuroHedge Managed Futures USD Index
3 • Decent December rounds off volatile equity year
• Market-neutral and quantitative
EuroHedge fundsUSD
Fixed Income finishIndex
up with modest
0 monthly gains
• Global equity managersMacro
EuroHedge end 2010
USD with punchy numbers
Index
-3

eUROHEDGE AWARDS
EuroHedge Global Equity USD Index
-6
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• CQS and BlueCrest lead 2010 EuroHedge Awards winners
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MSCI Europe - Net


EuroHedge Composite Index
EuroHedge European Long/Short Equity EUR Index
EuroHedge Managed Futures USD Index
EuroHedge Fixed Income USD Index Editorial contacts
EuroHedge Macro USD Index
Nick Evans, Editor, EuroHedge, nevans@hedgefundintelligence.com
EuroHedge Global Equity USD Index
Robert Murray, Associate editor, EuroHedge, rmurray@hedgefundintelligence.com

For more information on HedgeFund Intelligence products and services, please contact:

Ian Sanderson (US/Europe) James Barfield (US/Europe) Robert Ball (Asia Pacific)
isanderson@hedgefundintelligence.com jbarfield@hedgefundintelligence.com rball@hedgefundintelligence.com
+44 (0) 20 7779 7339 +44 (0) 20 7779 7336 +852 2842 6996

GlobalBriefing is a free monthly publication To subscribe please go to www.hedgefundintelligence.com/globalbriefing February 2011 4


Covering the single-manager hedge
fund industry in the Asia-Pacific

Asian funds battle tricky markets


Click the links to view. Subscription required unless noted otherwise.
asiahedge Indices (EST)
Medians Means
Strategy Jan-11 YTD Jan-11 YTD LATEST NEWS & analysis
Asia including Japan USD -1.32% -1.32% -1.53% -1.53% • AsiaHedge Forum 2011: Levinson, Chan and Zhou line up to speak
Asia excluding Japan USD -0.96% -0.96% -1.19% -1.19% in Hong Kong
Chinese Equity -0.50% -0.50% 0.41% 0.41%
• Brummer liquidates Karakoram fund
Indian Equity -13.55% -13.55% -13.55% -13.55%
Japanese Equity USD 0.93% 0.93% 1.02% 1.02%
• Fund managers expect ripe returns in Asia
Japanese Equity JPY -0.66% -0.66% -1.14% -1.14% • Threadneedle taps Miklavchich for emerging markets
Australian Equity AUD 0.25% 0.25% 0.18% 0.18% • Institutionalised funds most sought by investors, says BNY
AsiaHedge Composite 0.31% 0.31% -0.24% -0.24% Mellon
Equity Benchmarks • Maples hires Colchester to head Asia expansion
Benchmark index Jan-11 YTD
• HK Financial Secretary John Tsang to deliver AsiaHedge Forum
MSCI Pacific Free Net -0.36% -0.36% keynote
MSCI Pacific ex Japan -1.15% -1.15% • Indus launches Asian strategy fund on Morgan Stanley platform
MSCI China -0.52% -0.52%
China Shanghai Composite Index -0.62% -0.62%
FEatURES & PROFILES
Sensex -10.64% -10.64%
TOPIX 1.26% 1.26%
• Value Partners reaps rewards of a carefully cultivated discipline
Nikkei 225 0.09% 0.09% • MAS outlines new regime for managers in Singapore
Australian All Ordinaries 0.06% 0.06% • Sun steers Veritas to rich pickings in China as market shifts to
Hang Seng 1.79% 1.79% consumer growth
Figures correct as of 7 February 2011
For the latest statistics please view the AsiaHedge indices
COMMENT (FREE)
• The New Big Boys Club
asiahedge median indices vs
msci pacific free industry analysis
% • What next for the renminbi?
20
MSCI Pacific Free Net

15 AsiaHedge Composite Index

AsiaHedge Japanese Equity Index USD


10
AsiaHedge Asia including Japan Index USD
5
AsiaHedge Asia excluding Japan Index USD

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MSCI Pacific Free Net


AsiaHedge Composite Index
AsiaHedge Japanese Equity Index USD Editorial contacts
AsiaHedge Asia including Japan Index USD Aradhna Dayal, Editor, AsiaHedge, aradhna@hedgefundintelligence.com
AsiaHedge Asia excluding Japan Index USD
Yvonne Chan, Senior writer, AsiaHedge, ychan@hedgefundintelligence.com

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Ian Sanderson (US/Europe) James Barfield (US/Europe) Robert Ball (Asia Pacific)
isanderson@hedgefundintelligence.com jbarfield@hedgefundintelligence.com rball@hedgefundintelligence.com
+44 (0) 20 7779 7339 +44 (0) 20 7779 7336 +852 2842 6996

GlobalBriefing is a free monthly publication To subscribe please go to www.hedgefundintelligence.com/globalbriefing February 2011 5


Covering the global
fund of funds industry

Funds of funds end 2010 on upbeat note


Click the links to view. Subscription required unless noted otherwise.
Investhedge Indices
Medians Means
Strategy Dec-10 YTD Dec-10 YTD LATEST NEWS & analysis
Arbitrage USD Index 1.14% 4.90% 1.06% 4.00% • Fauchier Partners has an aggressive approach to risk-taking to
Asian Pacific Fund of Funds Index 1.24% 2.87% 2.03% 3.66%
keep exposures on track
Asset Based Lending Index -0.40% 3.31% -0.11% 1.74%
Commodities Index 3.84% 5.30% 3.93% 7.03%
• $36bn LACERA searches for bespoke provider
Distressed Index 1.50% 7.02% 1.59% 7.03% • Ellis looks forward to creating the next generation of alpha-
Emerging Managers Index 1.04% 5.01% 1.14% 4.32% focused multi-manager operations at Man
Emerging Markets Hedge USD Index 1.31% 5.08% 1.57% 6.80% • New Permal/JP index raises $500m at launch
European Equity EUR Index 2.46% 4.51% 2.69% 4.56%
• AP1 selects seven groups to advise on $1.5bn allocation
European Multi Strategy EUR Index 1.70% 4.13% -1.84% 0.11%
•Quellos veteran Clarvit retires from BlackRock
Fixed Income USD Index 1.83% 8.98% 1.70% 9.16%
Global Equity USD Index 2.19% 5.33% 2.40% 5.95% • Boston begins consultant search
Global Macro Currency USD Index 2.05% 5.10% 2.22% 6.12% • Gottschalk’s HK move set to expand Gottex in Asia
Global Multi Strategy EUR Index 1.55% 3.31% 1.78% 3.77% • Ohio PERS returns nearly 14% in 2010
Global Multi Strategy USD Index 1.83% 5.00% 1.92% 5.39% • LGT’s Castle indulges in more CTAs and macro
Leveraged Global Multi-Strategy USD Index 2.49% 8.06% 2.87% 9.14%
US Equity Index 2.50% 6.94% 2.78% 7.88%
Composite Index 1.84% 4.86% 2.03% 5.41%
FEatURES & PROFILES
• Blackstone Strategic backs those that want to be bigger, better,
For the latest statistics please view the InvestHedge indices
faster
• UK’s Merseyside Pension goes direct with a little help from its
Investhedge median indices vs msci World friends

%
8 COMMENT (FREE)
7 • Caveat emptor: beware of bespoke MSCI The World In
6
5 industry analysis InvestHedge Arbit
4
• Investors seeking golden opportunities
InvestHedge Glob
3
2
InvestHedge Asian
1
0 InvestHedge US Eq
-1
-2 InvestHedge Europ
-3
-4
InvestHedge Com
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MSCI The World Index – Net


InvestHedge Leveraged Global Multi-Strategy USD
InvestHedge Global Multi-Strategy USD
InvestHedge Global Equity USD
InvestHedge European Multi-Strategy EUR Editorial contacts
InvestHedge European Equity EUR Niki Natarajan, Editor, InvestHedge, niki@hedgefundintelligence.com
InvestHedge Composite
Susan Barreto, Deputy editor, InvestHedge, sbarreto@hedgefundintelligence.com

For more information on HedgeFund Intelligence products and services, please contact:

Ian Sanderson (US/Europe) James Barfield (US/Europe) Robert Ball (Asia Pacific)
isanderson@hedgefundintelligence.com jbarfield@hedgefundintelligence.com rball@hedgefundintelligence.com
+44 (0) 20 7779 7339 +44 (0) 20 7779 7336 +852 2842 6996

GlobalBriefing is a free monthly publication To subscribe please go to www.hedgefundintelligence.com/globalbriefing February 2011 6


Absolute
UCITS
Absolute UCITS European Index up 1.24%
Click the links to view. Subscription required unless noted otherwise.
January UCITS Performance Indices
Medians Means
Strategy Jan-11 YTD Jan-11 YTD Latest News & Analysis
Absolute UCITS European Equity Index 1.24% 1.24% 1.67% 1.67% • Funds get off to a strong start in 2011
EuroHedge European Equity EUR Index -0.15% -0.15% -0.01% -0.01% • Financial services fund launches on Morgan Stanley platform
Absolute UCITS Single Manager Composite Index 0.64% 0.64% 0.79% 0.79%
• New merger arb fund indicates improving economic conditions
HedgeFund Intelligence Global Index - Composite 0.28% 0.28% -0.13% -0.13%
• Aquila’s flagship strategy tops $1 billion
Equity Benchmarks • Open architecture UCITS platform launches
Benchmark index Jan-11 YTD
MSCI Europe - Net 1.93% 1.93% Ireland Special
FTSE 100 (London) -0.63% -0.63% • Funds flourish in Dublin despite sovereign debt woes
DAX (Frankfurt) 2.36% 2.36%
• Will AIFMD nurture or kill off UCITS hedge funds?
Figures correct as of 7 January 2011
• Why domicile your fund in Ireland?
For the latest statistics please view the Absolute UCITS indices • Prime brokers focus more on operational risk, says consultant
• Daiwa launches UCITS services in Ireland
UCITS INDICES VS EUROHEDGE EUROPEAN
EQUITY AND MSCI EUROPE Features and Profiles
• CastleRock launches UCITS hedge fund to compete with
%
15 long-only counterparts
• UBS adds
MSCItoEurope
UCITS platform
- Net offering
• Launch of UCITS hedge funds creates investor buzz, according
12
to wealth manager
HedgeFund Intelligence Global Index - Composite
• Undiscovered Europe: Opportunities for alpha?
9

Comment
Absolute(free)
UCITS Single Manager Composite Index
6 • Is the 2 and 20 fee structure a non-starter in the UCITS world?
• Will UCITS hedge funds become a trillion dollar industry?
EuroHedge European Equity EUR Index (Median)
3
Industry Analysis
• UCITS creates new
Absolute business
UCITS modelEquity
European for FOHFs,
Indexsays Blacksquare
0 • Hedge fund managers heading for a crossroads onshore, says
RWC
• Managers need accurate OTC derivative valuations, says
-3
consultant
• Largest fund on AU database increases distribution to European
-6 investors
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EuroHedge UCITS European Equity Index (Median)


EuroHedge European Equity EUR Index (Median)
HedgeFund Intelligence Global Index – UCITS
HedgeFund Intelligence Global Index - Composite
MSCI Europe - Net
Editorial contacts
Joy Dunbar, Editor, Absolute UCITS, jdunbar@hedgefundintelligence.com

For more information on HedgeFund Intelligence products and services, please contact:

Ian Sanderson (US/Europe) James Barfield (US/Europe) Robert Ball (Asia Pacific)
isanderson@hedgefundintelligence.com jbarfield@hedgefundintelligence.com rball@hedgefundintelligence.com
+44 (0) 20 7779 7339 +44 (0) 20 7779 7336 +852 2842 6996

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Global hedge fund assets
Growth of the global hedge fund industry
FUND OF FUNDS ASSETS VS total GLOBAL ASSETS
Global hedge fund assets (est)
3,000
Fund of funds assets (InvestHedge FoF Billion Dollar Club)

2,500

2,000
Assets $bn

1,500

1,000

500

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Source: HedgeFund Intelligence

1H
HedgeFund Intelligence compiles global asset data from its databases contact any of our editors.
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and surveys. The firm-specific figures, which are verified on a Nick Evans, Editor, EuroHedge, nevans@hedgefundintelligence.com

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firm-by-firm basis, result in the most painstaking and accurate survey Aradhna Dayal, Editor, AsiaHedge, aradhna@hedgefundintelligence.com
of its kind. Niki Natarajan, Editor, InvestHedge, niki@hedgefundintelligence.com
To discuss the methodology of the Global Billion Dollar Club, please Michelle Celarier, Editor, AR Magazine, mcelarier@absolutereturn.net

the global billion dollar club – july 2010 US hedge fund launches (see latest New Fund Survey here)
FIRST HALF* FULL YEAR*
Measuring the assets of single-manager hedge fund firms managing at least $1bn (not Number of funds Assets raised Number of funds Assets raised
including funds of funds). Does not include the assets for smaller firms, which is why (assets over $50m) ($m) (assets over $50m) ($m)
the total below differs from that of the global hedge fund assets in the chart above. 2004 47 9,000 81 39,500
2005 72 16,400 73 33,500
Location AUM ($bn) Number of firms % total assets % total funds 2006 51 11,700 86 30,600
2007 72 14,000 81 31,500
NY, USA 706.44 124 46.03 39.49
2008 35 19,500 55 23,170
London, UK 238.82 52 15.56 16.56
2009 12 3,849 53 14,890
CT, USA 168.1 25 10.95 7.96 2010 43 10,900 59 17,432
CA, USA 70.03 16 4.56 5.10 *All first-half surveys only look at fund launches above $25m while all full-year surveys only look at fund
MA, USA 89.48 12 5.83 3.82 launches above $50m
Hong Kong 13.47 10 0.88 3.18 European hedge fund launches (see New Fund Survey here)
TX, USA 25.59 8 1.67 2.55 FIRST HALF FULL YEAR
NJ, USA 25.32 5 1.65 1.59 Number of funds Assets raised ($m) Number of funds Assets raised ($m)
Sydney, Australia 19.67 5 1.28 1.59 2004 128 9,430 253 22,790
MN, USA 16.53 5 1.08 1.59 2005 150 13,095 334 27,816
Singapore 6.15 5 0.40 1.59 2006 172 11,437 423 37,770
IL, USA 22.05 4 1.44 1.27 2007 189 15,545 370 33,087
Paris, France 15.39 4 1.00 1.27 2008 106 10,841 201 17,858
2009 47 2,089 142 11,146
Hamilton, Bermuda 11.22 4 0.73 1.27
2010 58 3,752 n/a n/a
Stockholm, Sweden 14.34 3 0.93 0.96
WI, USA 9.85 3 0.64 0.96
Asian hedge fund launches (see New Fund Survey here)
Rio de Janeiro, Brazil 5.13 3 0.33 0.96
FIRST HALF FULL YEAR
Toronto, Canada 4.14 3 0.27 0.96 Number of funds Assets raised ($m) Number of funds Assets raised ($m)
Tokyo, Japan 3.92 3 0.26 0.96 2004 40 1,720 129 5,180
GA, USA 11.84 2 0.77 0.64 2005 65 3,878 126 6,589
PA, USA 11.79 2 0.77 0.64 2006 70 3,304 122 5,763
São Paulo, Brazil 10.31 2 0.67 0.64 2007 74 5,701 116 7,834
Other 35.28 14 2.30 4.46 2008 50 2,549 75 2,975
Total 1,534.86 302 100 100 2009 39 1,120 77 2,601
Source: HedgeFund Intelligence. De-duplicated to account for groups with more than one official location 2010 53 2,127 n/a n/a
Source: HedgeFund Intelligence

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