| Largest hedge funds of funds |
| Funds reporting to Morningstar database as of Oct. 31, 2007, ranked by assets, in millions. |
|
| 1 | Optimal Japan Opp Ireland B JPY | $9,983 |
| 2 | GAM Multi Japan USD | $9,918 |
| 3 | Gottex Market Neutral AH | $9,273 |
| 4 | Permal FX Financials & Futures USD B | $9,011 |
| 5 | Permal Investment Holdings USD A | $7,508 |
| 6 | Lyxor/Coast Diversified | $6,700 |
| 7 | Hermes Japan Fund | $6,057 |
| 8 | La Fayette Active Value GBP | $5,690 |
| 9 | Aetos Cap Balanced Onshore | $4,493 |
| 10 | Gottex Market Neutral Plus JPY | $3,442 |
| 11 | GMO Multi Strategy | $3,376 |
| 12 | Morgan Stanley Institutional | $3,175 |
| 13 | Frank Russell Alt Investment AI | $2,900 |
| 14 | Arden Alternative Advisers | $2,894 |
| 15 | Arden Endowment Advisers | $2,754 |
| 16 | Gems Low Volatility Portfolio EUR | $2,676 |
| 17 | Optimal Strat US Equity A USD | $2,632 |
| 18 | Russell Alternative Strategies II | $2,600 |
| 19 | EnTrust Diversified C | $2,467 |
| 20 | DB Global Masters USD | $2,418 |
| 21 | Attalus Multi-Strategy | $2,383 |
| 22 | EACM Multi-Strategy Composite | $2,300 |
| 23 | Investcorp Balanced | $2,259 |
| 24 | La Fayette Holdings USD | $2,185 |
| 25 | Mesirow Equity Opportunity | $2,161 |
| 26 | Overlook Performance Fund | $2,077 |
| 27 | Lehman Brothers Alpha Transport | $2,063 |
| 28 | SAIL Flagship Fund | $2,015 |
| 29 | JP Morgan Multi-Strategy II | $2,012 |
| 30 | La Fayette Regular Growth USD | $1,918 |
| 31 | Ironwood Partners | $1,861 |
| 32 | Gems Progressive Fund T | $1,837 |
| 33 | Endowment Master Fund | $1,827 |
| 34 | Japan Absolute Fund B JPY | $1,789 |
| 35 | GMO Multi-Strategy Offshore | $1,753 |
| 36 | Pinnacle Natural Resources | $1,700 |
| 37 | Mayibentsha Opp Unhedged ZAR | $1,634 |
| 38 | LCF Leveraged Capital Holdings | $1,626 |
| 39 | Cadogan Partners | $1,624 |
| 40 | GMO Multi-Strategy Onshore | $1,623 |
| 41 | Coast Diversified Fund | $1,610 |
| 42 | JP Morgan Multi-Strategy | $1,594 |
| 43 | Optimal Arbitrage A USD | $1,577 |
| 44 | LCF European Capital Holdings | $1,564 |
| 45 | The Momentum All Weather | $1,531 |
| 46 | Eden Rock Structured Finance | $1,530 |
| 47 | Selectinvest MultiStrategy I USD | $1,520 |
| 48 | Optimal Multi Strat Ireland A USD | $1,516 |
| 49 | Momentum All Weather | $1,507 |
| Source: Morningstar Inc., Chicago |
