Two-thirds of Global Pensions readers investing in hedge funds still rely on fund of funds for their exposure.
Some 33.33% of respondents who had originally accessed hedge funds through funds of hedge funds have now moved into direct exposure to the asset class, echoing similar findings in a survey carried out by Preqin.
Many respondents said they still do not invest in hedge funds, while others said they use a mix of both direct and FOF exposure.
One said: “We never considered FOF since we believe it means ‘fees on fees’. We have always desired to focus on direct allocations to specific styles of hedge funds. It is not a homogeneous asset area. Frankly, a hedge fund is simply a business structure and not an asset class.”
The Next Generation Pensions Committee is on a mission to promote and encourage younger voices in the industry. Kim Kaveh looks at its key objectives
This week's top stories included an analysis finding the cost of equalising guaranteed minimum pensions in schemes could hit FTSE 100 profits by up to £15bn.
Employers whose dividend to deficit recovery contribution (DRCs) ratios fall outside the "normal range" should expect to see higher regulatory scrutiny, although no fixed ratio will be set.
Investment consultants and fiduciary managers should expect a final decision on the investigation into the market to be published by the end of the year, the competition watchdog says.