The US hedge fund industry has recovered faster and more strongly than other regions across the globe, and is currently enjoying significant growth in terms of assets under management, having already grown by $150bn in 2013 so far, according to Preqin’s report.
Although much of this growth can be accounted for by the solid performance of hedge funds in 2013 year to date, we have also witnessed some significant commitments to US-based hedge funds so far this year. US-based hedge funds account for an overwhelming 73% of total hedge fund industry assets under management.
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Other key facts:
- New York and Connecticut are the first and third leading centers for hedge funds globally by total assets under management, with the UK the second largest.
- US-based funds of hedge funds represent $508bn in assets under management, or 65% of the capital managed by funds of hedge fund globally.
- 95% of US-based hedge fund industry assets under management is accounted for by the 10 leading states for hedge fund management in the US, which are explored in further detail in Preqin’s report: New York, California, Connecticut, Massachusetts, Illinois, Texas, New Jersey, Minnesota, Pennsylvania and Florida.
- In contrast to the US’s growth of $150bn in 2013, Europe-based hedge funds have added $33bn in assets in 2013 to date.
- 55% of all institutional capital invested in hedge funds is accounted for by US-based investors; discounting funds of funds, the largest proportion of this capital is invested by public pension funds.
- US-based hedge funds have enjoyed strong performance over the past 12 months, posting a net return of 13.54%, easily beating the global hedge fund benchmark of 11.09%.
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By GlobalData
