WEST PALM BEACH, FL (www.hedgeco.net) – A new released survey has found that the number of federally registered investment advisers providing their services to hedge fund clients is on the increase.While on the other hand, the numbers of mutual fund advisers continues to decline.
According to the new survey, �Almost 25% of investment advisers registered with the Securities and Exchange Commission report providing services to hedge funds.� The Investment Adviser Association and National Regulatory Services conducted the survey. The 2005 survey shows that there are 8,614 federally registered investment advisers.
The survey also shows that the number of federally registered investment advisers increased 3.7% from 2004; one year ago the number was 5.7%. �Assets under management by SEC-registered investment advisers reached a record $26.8 trillion, while discretionary accounts grew 15% to $24.3 trillion�, according to the new report.
On the other hand, the number of mutual fund advisers was decreasing over the past four years. The number of mutual fund advisory firms had dropped from 20 percent in 2002, to 17 percent in 2005. According to data from the new report, �Of the newly registered advisers, about 11% are advisers to hedge funds. A total of 2,100 firms advise hedge funds while 1,471 advise mutual funds.
The survey also found that a total of 735 SEC registered advisory firms service the hedge fund industry, the number increased 22 percent from last year.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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