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.
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