The hedge fund industry is reaching new heights, as assets shot to a record level of $665 billion, driven primarily by broad-based performance, according to Hedge Fund Research, Inc.

The industry’s assets increased $47 billion in the second quarter, with a mere $1.4 billion of that coming from new assets. Hedge funds were aided by stronger economic data and a rally in the equity markets.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.