WEST PALM BEACH, FL (HedgeCo.Net) – The Hennessee Hedge Fund Advisory Group has released the results for its 2004 Foundation and Endowment Survey. The survey showed that the average foundation andendowment has been investing in hedge funds for about 7 years, less that half of the survey participants began investing in hedge funds after the year 2000. The new study was also passed on to theSecurities and Exchange Commission ( SEC ) as part of the responses to the SEC�s new hedge fund regulation initiatives.

According to Lee Hennessee, Managing Principal of Hennessee Group LLC, the survey showed �That 59% of participants were in favor of the proposal requiring hedge funds to register as RIAs, however, the 30% that were against the proposed rule manage three times more capital, allocate 46% more to hedge funds, and have 50% more years of experience investing in hedge funds.�

The survey also showed �that foundations and endowments that invest in hedge funds have an average of 17% allocated to hedge funds; the average foundation and endowment that are in favor of registration managed $536 million versus the $1.8 billion for those that are against the proposed rule�.

According to the released survey, �The participants who are against the registration requirement have an average of 22% allocated to hedge funds, with 15% of the capital invested directly with hedge fund managers and the remaining 7% through fund of funds products�. The study included 46 foundation, and endowment groups.

Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net

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