The Global Alternatives Survey 2007 is conducted annually by Watson Wyatt Investment Consulting for Global Investor. This year it polled 112 investment managers globally to determine the size of assets managed on behalf of pension funds at 31/12/06 across four alternative asset classes. In private equity and hedge funds, the survey is focused purely on fund of funds. For real estate and commodities direct funds are included. The survey is based on data received from investment managers and where they were not able to account separately for assets managed on behalf of pension funds they had to be excluded from the ranking.