The global hedge fund industry is enjoying noteworthy growth, figures suggest.

A 61 per cent majority of fund managers worldwide reported rising assets in their hedge funds, according to a survey by PricewaterhouseCoopers and the Alternative Investment Management Association.

The survey, which was carried out in mid-2015 on 146 firms in Europe, North America and Asia, also found that 44 per cent of managers are planning on launching a new hedge fund by the end of 2016. The respondents collectively manage around $550 billion in hedge fund assets.

Meanwhile, more than 80 per cent of firms that have liquid alternatives funds said these products were delivering growth. Indeed, half of UK managers and almost a third of US managers said they would roll out a new liquid alternatives fund by the end of next year.

“The alternatives industry continues to grow and evolve, a sign that it is responding positively to changed investor demands as well as regulatory reforms. The industry, having begun the process of institutionalization prior to the global financial crisis, is now maturing rapidly in order to manage a variety of distribution opportunities,” said AIMA's chief executive, Jack Inglis.

There were mixed reactions on the impact of the Alternative Investment Fund Managers Directive (AIFMD), the European financial directive that tightens oversight of alternative investments, for example, through more disclosure and requirements on custody. Around three-quarters of managers had changed where or how they market non-EU funds to EU investors as a result of the directive, while only a small number of EU managers were found to be using the passport, since they continue to manage non-EU funds. Still, a large proportion of these managers said they would apply for the passport if it became available.

PwC's alternatives leader for Europe, Middle East and Africa, Olwyn Alexander, said the findings show how regulation has sparked a “growing distribution awareness” in the hedge fund industry.

“There is an ever increasing sophistication amongst investors in how and where they invest and hedge fund managers are clearly thinking strategically about what channels they wish to sell to, where in the world and what mechanisms they use to sell their funds. It is heartening to see the number of managers considering a launch of new products in the coming year, which is testimony to the resilience and strength of the industry,” Alexander said.