67% of all hedge funds globally and 70% of all new fund launches are US-based
Crypto hedge funds appear for the first time in the top 10 of hedge fund strategies
22% of hedge funds apply a purely quantitative investment process and ca. 2% use artificial intelligence
An in-depth analysis compiled by quant technologies provider SigTech, reports that after continued expansion in 2021, there are currently 27,255 active hedge funds globally.
Geographical breakdown
The hedge fund industry remains dominated by the US market, which is home to 67% of all hedge funds globally, followed by 9% in the UK, 4% in China, and ca. 2% each in Brazil, Canada and Switzerland.
When it comes to the cities that have the largest concentration of hedge funds, unsurprisingly New York is the clear leader with nearly 7,000 funds (25.0% of total), followed by London with over 2,000 (8.2%), and Hong Kong with nearly 1,000 (3.6%).
Top 10 cities No. of hedge funds % of total hedge funds
New York 6,801 25.0%
London 2,230 8.2%
Hong Kong 978 3.6%
Boston 931 3.4%
Chicago 786 2.9%
Greenwich (USA) 682 2.5%
San Francisco 677 2.5%
Los Angeles 482 1.8%
São Paulo 448 1.6%
Toronto 395 1.4%
Daniel Leveau, VP Investor Solutions at SigTech, comments: “Our analysis reveals a strong and vibrant global hedge fund industry. Despite a healthy growth in emerging hedge fund centers, US-based managers continued to dominate the industry, both in absolute numbers and in terms of new fund launches.
Strategy breakdown
The most popular hedge fund strategy is Equity Long/Short, followed by Multi Strategy, Equities others (e.g., long bias, short bias), Fixed Income Credit and Event Driven. The fast-growing sub-strategy Crypto now makes up ca. 3% of all hedge funds. Also noteworthy is that 22% of the world’s hedge funds apply a purely quantitative investment process and ca. 2% claim to use artificial intelligence.
Top 10 hedge fund strategies No. of hedge funds % of total hedge fund strategies
Equity Long/Short 6,925 26.0%
Multi Strategy 4,899 18.4%
Equities others 3,120 11.7%
Fixed Income Credit 3,004 11.3%
Event Driven 2,004 7.5%
Managed Futures 1,780 6.7%
Macro 1,450 5.4%
Relative Value 1,377 5.2%
Alternative Risk Premia 997 3.7%
Crypto 774 2.9%
New hedge fund launches
On the backdrop of a strong performing hedge fund sector, new fund launches remain strong, with nearly 2,000 new launches per year on average since 2019. Of the 5,500 new hedge funds launched since 2019, 70.2% are based in the US, 9.3% in the UK and 5.2% in China.
Top 5 countries for hedge fund
launches since 2019 No. of hedge fund launches % of total
USA 3,859 70.2%
UK 512 9.3%
China 287 5.2%
Brazil 127 2.3%
Canada 101 1.8%
The most popular strategy for these new funds is Equity Long/Short, followed by Fixed Income Credit, Equity others (e.g. long bias, short bias) and Multi Strategy.
Top 10 hedge fund strategies No. of hedge funds % of total
among fund launches
Equity Long/Short 1,059 19.3%
Fixed Income Credit 515 9.4%
Equity others 394 7.2%
Multi Strategy 348 6.3%
Crypto 310 5.6%
Event Driven 244 4.4%
Relative Value 241 4.4%
Macro 238 4.3%
Managed Futures 133 2.4%
Alternative Risk Premia 38 0.7%
Leveau adds: “The robust level of new hedge fund launches reflects a sustained strong demand from investors for innovative and uncorrelated investment strategies to meet return expectations in an increasingly challenging market environment. Hedge fund growth shows no signs of abating, fuelled by the ever-increasing investment opportunities in the market, and the growth of new data and tools available to these funds.”
Crypto hedge funds on the rise
In 2021, a record number of 171 crypto hedge funds were launched. In total, there are now 774 hedge funds focused on crypto, with the US again being the driver of innovation with 80% of these funds domiciled in the US.
Daniel Leveau says, “We are investing heavily in our quant technology platform to satisfy the strong demand from hedge funds looking to accelerate their data-driven investment processes.
Alongside the growing hedge-fund community, SigTech enjoyed strong growth in 2021. Clients with a combined AUM of over $5 trillion are now using our platform, including some of the world’s leading hedge funds, as well as recently launched start-up systematic funds.”
About SigTech
SigTech offers a future-proof quant trading platform to global investors. Cloud-hosted and Python-based, the platform integrates a next-gen back test engine and analytics with curated datasets covering equity, rates, FX, commodity, and volatility. SigTech eliminates the expensive upfront costs of infrastructure build-out, giving clients an edge in alpha generation from day one.
The SigTech platform was originally built over seven years to manage systematic investments at Brevan Howard, which remains a SigTech client today. After the spinoff into an independent company in 2019, the team has grown substantially and established SigTech as the leading provider of quant technologies.
The Governor of Akwa Ibom State, Umo Eno, and his Lagos State counterpart, Babajide Sanwo-Olu, have flagged off an 18-storey Ibom Towers project in the Victoria Island area of Lagos State.
Governor Eno announced this via a post on his official X handle on Wednesday, October 30.
Speaking after the Ibom Towers project ceremony in Lagos, Governor Eno stated that the project will drive revenue growth and strengthen economic ties between Akwa Ibom and Lagos States.
Eno commended Lagos State Governor Sanwo-Olu for leading the ceremony, adding that the project is set for completion in 24 months.
He detailed that the Ibom Towers, located at Plot 868A, Bishop Aboyade Cole, Victoria Island, Lagos, will feature luxury apartments, gyms, pools, and smart building technology.
Governor Eno said, “Today, as part of our efforts to diversify Akwa Ibom’s economy, we marked the groundbreaking of the 18-story Ibom Towers in Lagos. This project, expected to be completed in 24 months, will drive substantial revenue growth and economic ties between Akwa Ibom and Lagos States.
“We are grateful to Governor Babajide Sanwo-Olu for leading the groundbreaking ceremony and to former Governors Udom Emmanuel, CON, and Obong Victor Attah for their support.
“Ibom Towers represents a bold step toward economic innovation, featuring luxury apartments, gyms, pools, and smart building technology.
“It’s designed to attract urban professionals and generate revenue through property leases and tourism, boosting GDP for both states. Thanks to everyone who joined us today, including the Oba of Oniru, HRM Oba Abdulwasiu Omogbolahan Lawal, His Eminence Ntenyin Solomon Etuk, Speaker Udeme Otong, AKICORP MD Imo-Abasi Jacob, and numerous traditional rulers for their support in bringing this vision to life. Together, we’re paving the way for a prosperous future!”
Governor Sanwo-Olu, who described the project as a symbol of inter-state collaboration, commended Umo Eno for recognizing Lagos as a prime investment opportunity.
The Lagos State Governor expressed his full support for Governor Eno and the Ibom Towers project.
He said, “Today, I joined Governor Umo Eno of Akwa Ibom State for the groundbreaking ceremony of Ibom Towers in Victoria Island, Lagos.
“I commend Governor Eno for recognizing Lagos as a prime investment opportunity, as this project is a symbol of inter-state collaboration. It represents not only physical growth but also our commitment to strengthening economic ties and fostering new opportunities.
“As Ibom Tower rises, it will serve as a beacon for business and community engagement, reflecting our shared vision for Nigeria’s growth through creativity and collaboration.
“On behalf of Lagos State, I extend our support to Governor Eno and all involved in this endeavor.”
The Federal Ministry of Housing and Urban Development has announced plans to revoke the Certificates of Occupancy (C of O) of property owners who continue to refuse payment of ground rent and other statutory charges owed to the Ministry.
This development was disclosed by the Minister of Housing and Urban Development, Ahmed Dangiwa, during the 29th Conference of Directors of Lands held in Abuja on Wednesday.
Dangiwa stated that the Federal Government is giving C of O holders a 60-day ultimatum to clear their outstanding debts.
At the conference, themed “Equitable Land Stewardship: Challenges of Land Administration and Its Impact on Climate Change and Community Rights,” Dangiwa revealed that property owners’ refusal to pay their dues has resulted in a loss of trillions of naira in revenue for the government.
According to him, President Bola Tinubu’s administration will not tolerate non-compliance, as the revenue is critical to delivering on the president’s agenda.
He said, “The Federal Ministry of Housing and Urban Development is aware that several owners of titled properties have failed to pay ground rent and other statutory charges to the Ministry for several years.
“This non-compliance has resulted in the loss of trillions of naira in revenue to the Federal Government. Under the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu, this cannot be tolerated, as this revenue is much needed to deliver the Renewed Hope Agenda.”
“As such all Federal C of O title owners are hereby given a 60-day notice to settle all outstanding ground rent and statutory charges. Failure to make payment within this period will result in the revocation of their C of Os.”
“Failure to adhere to these requirements will attract the appropriate penalties and sanctions,” Dangiwa warned.
The announcement comes amidst the economic hardship ravaging the country as a result of the fuel subsidy removal of President Bola Tinubu government’s.
A billionaire businessman and father of popular music star David Adeleke, also known as Davido, Dr. Adedeji Adeleke has disclosed that he has a firm that generates about 15 per cent of Nigeria’s electricity.
He disclosed this while speaking at the Seventh-Day Adventist Church’s General Conference Annual Council 2024.
Adeleke revealed that he is in the process of constructing a 1,250-megawatt power plant worth $2billion, saying that upon completion, is expected to be the largest in the country and that it would be operational in January, 2025.
He said as a businessman in electricity, he owns power plants and generate presently about 15 percent of the electricity needs of Nigeria.
The elder brother of the Osun State Governor, Ademola Adeleke, said he has Chinese engineering companies that work for him, adding that his tenth new power plant will be the biggest thermal power plant in the country.
Adeleke disclosed that while preparations for the project were underway, an unnamed government official threatened to prevent its completion.
Despite this challenge, Adeleke credited the near-completion of the project to the mercies of God, stating that it is a testament to divine intervention that the venture has progressed this far.
Adeleke noted that his Chinese friend had to travel down to Nigeria to discuss a way out because he never believed that prayer was enough to get the project done.
He affirmed that prayer did as the then Minister of Power granted the approval because he saw that the project was a brilliant one.