San Antonio Express News – More institutions worldwide shifted money to hedge funds last year, with 44 percent allocating at least a tenth of their assets to the investment pools, State Street Corp.said in a survey.
Most institutions, such as pension funds and endowments, plan to hire new alternative-investment managers this year, Boston-based State Street said. Eighty-six percent said they would hire new hedge fund managers and 67 percent would add private equity managers, the survey found.
Hedge funds have expanded beyond U.S. investors to “become a permanent fixture within a broader set of institutional portfolios,” said Executive Vice President Gary Enos, who heads State Street’s alternative investment service business.
Hedge funds have more than doubled in size since 2000 to $1.1 trillion.
