In the first half of this year, AIMA, in collaboration with Marex Prime Services, conducted a brief survey of next-generation hedge fund managers and their investors. Previously, we categorised this group as firms managing up to $500 million in assets under management (AUM). Recognising that some industry commentators consider this group to be larger, we also surveyed firms managing up to $1 billion and included that data for relevant comparison.

This report focuses on several key areas: fund fees, average headcount, operational costs (including estimated breakeven costs), and the average time to secure a new investment. The report is divided into two main sections: Part one will highlight the key findings that we extrapolated as it relates to all the flagship funds of the fund managers who responded to this survey, while part two discusses the key findings of their firms. Where relevant, we offer a time series analysis of how the responses have changed.

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  Tom Kehoe

  Managing Director, Global Head of Research and Communications, AIMA

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  Lawrence Obertelli

  Head of EMEA Prime Service Sales, Marex