Today, there are about 14,500 hedge funds in the world. In 2016, 668 fund managers managed at least $1 billion in assets, according to alternatives data provider Preqin. Although the number of hedge funds has declined in recent years, total assets under management (AUM) exceeded $3.2 trillion worldwide in late 2017. Approximately $9.8 billion of new capital was invested in hedge funds in 2017. A major shift in funding sources for hedge funds has occurred in the past 15 years or so. In 2001, contributions by institutional investors comprised only 5 percent of all capital at hedge funds. By 2017, contributions by this investor class had grown to 58 percent of industry capital, according to Preqin.
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