At the same time, we have seen some withdrawal of capital from hedge funds in the face of high fees, skewed alignment of interests and performance headwinds. Luba Nikulina, global head of manager research at Willis Towers Watson, says: “As capital supply and competition have increased in some segments of the illiquid credit universe, such as direct lending for example, yields are not always offering sufficient compensation for illiquidity and risk. Conversely, assets allocated to direct hedge fund strategies among the top 100 asset managers fell over the period, from USD 755bn to USD 675bn (-10.6%). In terms of the gth in asset classes among the top 100 asset managers, illiquid credit saw the largest percentage increase over the 12-month period, with AuM rising from USD 178bn to USD 360bn. Compared to the rest of the world though, gth among Swiss managers was much more modest, at 1.6%. The other Swiss and Liechtenstein-based companies are UBS funds of hedge funds (48th place), LGT (72th) and Partners Group (100th) both in private equity funds of funds. The Top 100 managers - in this study, defined as asset managers associated with a given asset category - include five Swiss companies accounting for 5% of the total alternative assets managed by the Top 100.Īs in the rest of the world, real estate represents the most significant "alternative" asset category here in Switzerland, with UBS ranked 9th and Credit Suisse 34th. In Switzerland too, gth in alternative investments continued in 2016. The total assets of all managers included in the study rose to almost USD 6.5 trillion. The Global Alternative Survey by Willis Towers Watson, which captures long-term institutional investment trends by seven main investor types across ten alternative asset classes, showed that of the top 100 alternative investment managers, real estate managers have the largest share of assets (35%), followed by private equity managers (18%), hedge funds (17%), private equity funds of funds (12%), illiquid credit products (9%), funds of hedge funds (6%), infrastructure (4%) and commodities (1%).Īs at the end of 2016, the Top 100 alternative investment managers saw AuM reach USD 4 trillion. In Switzerland too, gth continues in this area with local providers meanwhile managing a total of USD 360 billion, USD 203 billion of which is managed by the Top 5. ZURICH, 31 August 2017 – The world's largest 100 alternative asset managers saw assets under management increase by 10% in 2016, rising to USD 4.0 trillion, according to the 2017 edition of Willis Towers Watson's Global Alternatives Survey.
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