Since 2008, Lupus alpha has been analyzing the universe of absolute return and liquid alternatives funds on the basis of data from the analysis firm Refinitiv. The current evaluation as of the end of 2021 shows that the number of funds in the market has fallen by 126 to 724. In addition to fund closures, mergers or the withdrawal from the German market, this decline reflects in particular a reclassification of funds on the part of the data provider Refinitiv. Funds from the absolute return bond category were particularly affected, accounting for 48 of the 71 reclassifications. A total of 40 new products were launched. Including all reasons for additions and disposals, the number of products in the absolute return fund group fell from 344 to 270 funds, while the number of alternative funds fell from 506 to 454.