Global hedge fund assets hit the 5 trillion dollar mark, with net inflows reaching a new high since 2007.

The global hedge fund industry's assets skyrocketed to a record $5 trillion, thanks to investors increasing their allocations to alternative assets and the steady returns achieved by funds. According to data from Hedge Fund Research, hedge funds saw nearly $34 billion in net inflows in the third quarter, the highest single-quarter inflow since before the 2007 global financial crisis.