Industry figures show Australia's hedge fund sector is about to pass a milestone and has posted robust returns.

Australia’s hedge fund industry is just shy of the A$100 billion mark for assets, industry figures show, with a trade association for the sector claiming that it will continue to expand significantly.

AuM of funds in the country stand at A$96.9 billion ($67 billion), the Alternative Investment Management Association said in a note, citing figures from the Australian Securities and Investments Commission.

Assets of such funds expanded by 45 per cent between 2012 to 2014. ASIC data also showed that in 2014, Australia’s largest hedge funds reported average returns of 15.6 per cent, AIMA said.
 
Australian membership of AIMA has grown 25 per cent over the last 18 months, the organisation added.