Hedge funds hold nearly $2.2 trillion

Assets managed in nearly 10,000 hedge funds totaled $2.16 trillion as of Dec. 31, estimated researchers at Credit Agricole Structured Asset Management in a new report. The CASAM 2007 Industry Report said that while most hedge funds are domiciled outside of the U.S., mostly in the Cayman Islands, 60% operate in the U.S. and 25% have their principal operations in New York. Long/short equity was the largest hedge fund strategy, holding $568 billion as of Dec. 31, followed by event-driven multistrategy with $245 billion and global macro with $221 billion. CASAM’s data were culled from the firm’s CISDM database covering more than 6,000 hedge funds, funds of funds, commodity trading advisers and commodity pools.