Some remarkable stuff in the ICI data (on mutual funds) and HFM data (on hedge funds) this week. The former pegged mutual fund assets at a little over $10-trillion, while the latter put hedge fund assets at having just broached the $2-trillion mark.
While the preceding is noteworthy in itself, it is even more impressive when you consider how hedge fund assets have grown as a percentage of the size of the mutual fund market. The following figure gives context back to 1990, with hedge funds having recently soared to being 20% of the size of the mutual fund market in recent years. Incredible.