Reuters – Hedge funds receive nearly three-quarters of their capital from institutional investors, according to a survey released on Wednesday that shows how these portfolios are no longer reserved for the rich but are investing nest eggs for teachers, firefighters and janitors.
It takes pension funds and endowments roughly 3 months to select a hedge fund, the survey shows, and they are very choosy, with 56 percent selecting only about 10 hedge fund investments a year.
