Managers of hedge funds and other alternative funds know they'll be subject to more stringent regulatory requirements in the wake of the Dodd-Frank Wall Street Reform Act but for now it's business as usual and right now that business is booming.

According to a new report released this week by Boston-based financial services research and consulting firm Aite Group, global hedge fund assets rose to more than $1.92 trillion worldwide at the close of 2010, bringing the industry within a whisker of its all-time peak of $1.93 trillion in 2008.

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