Alternative assets around the world reached $1.26 trillion in 2005, up 20% from the previous year, according to data from Watson Wyatt, InvestorsOffshore.com reports.

While the increase in hedge funds-of-funds slowed to 44% during the year, down from a 50% increase in 2004, they attracted the most new money into alternative asset classes, taking in $85 billion in 2005.

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