The FT reports today that a new survey of hedge fund administrators conducted by HFM Week estimates total industry assets at $2.7 trillion - higher than many had estimated and suggestive of a strong recovery by the industry.
As one quick aside, it was interesting to see that the FT reports that the administration industry "values" hedge fund assets....if only that was the case. We guess that a statement that "the hedge fund administrator verifies the investment manager's values where possible, subject to the terms and conditions of the offering memorandum which allow the investment manager to select any alternative method of fair valuation" doesn't have quite the same ring to it!
Hedge Fund Operational Due Diligence
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