Types of Hedge Funds

group controlled 43.99 percent of all hedge fund assets. Other sources
put the global macro portion as high as 70 percent of all hedge fund as-
sets in 1990.
1
Figure 2.2 shows the same hedge fund groups in 2003. Global macro
hedge funds constitute the sixth largest group, comprising only 5.57 per-
cent of the total. Most other groups have grown at the expense of global
macro hedge funds.
The same styles are listed in Figure 2.1 and Figure 2.2, both ranked in
order of assets in 1990. Long/short equity hedge funds have risen from
20.99 percent of the total in 1990 to 45.19 percent in 2003.
HEDGE FUND CATEGORIES
Although individual funds vary within the following categories, a descrip-
tion of a strategy typical for the group provides a definition for each cate-
gory. Note that his list includes subcategories not broken out in Figure 2.1
and 2.2.
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HEDGE FUND COURSE
FIGURE 2.2
Hedge Fund Allocations by Style, December 31, 2003
Source: Tass Research.
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