March 3rd, 2005, 2:46 pm
there isn't really a reliable number to go by. If you compare HFR, Tremont, TASS, etc they all come up with different numbers. The reason is, a) not all hedge funds are listed with the research firms b) do you count the number of managers or actual funds c) there is a lot of inflation in the actual AUM numbers, through double counting, circular investments and hedge funds who are investing their assets in other hedge funds since they can deploy all the assets themselves.