More Institutional Investments in Funds
Hedge fund managers’ client base has become more institutional than retail over the past year – leading to an “insitutionalisation” of the industry, International Asset Management said.
In an interview with Global Pensions, the chief executive of the fund of hedge fund firm, Morten Spenner, said around 55% of assets are now managed by institutions - up from about 40% before the crisis.
He said the tilt in assets was triggered by an exodus by retail and high-net-worth clients from the industry post-Madoff, and a need for liquidity.
Spenner said: "Consequently, there will be less appetite for leverage, structured products and Madoff club-type deals."Source
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