GLOBAL - Institutional investors' appetite for hedge funds has increased, with pension funds favouring large, well-established outfits.
Overall the survey showed some 44.8% of all hedge fund money came from institutional investors but it made up 60% of fund of funds assets.
Firms which were set up before 1995 attracted the largest number of institutions, with between 67-75% making up their client bases.
Preqin said institutional quality infrastructure was the challenge most commonly cited by hedge funds to attracting customers, followed by transparency issues.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.