ASIC has released a report today summarising its findings following a 2012 survey of hedge fund managers operating in Australia with more than US$500 million under management. The key findings of the report were that hedge funds manage only a small share of Australia’s $2.1 trillion managed funds industry with more than half of these holding less than $50 million each. Australian hedge funds do not currently appear to pose a systemic risk to the Australian financial system. Listed equities represent surveyed hedge fund managers’ greatest asset exposure, with 32% of this being in Australian-listed shares.