Summary List PlacementDespite assets growing, the number of hedge funds has been shrinking for several years now. Every year since 2014 there have been more fund managers calling it quits than joining the fray. According to Hedge Fund Research, in 2018 and 2019, there was a combined net loss of more than 350 hedge funds, concentrating more assets with the biggest managers. Then a global pandemic hit, and hedge funds — for the most part — did their jobs. Macro managers, stock-pickers, and distress players all were able to make money last year.