US endowments look everywhere in their quest for hedge fund alpha

Tue Jul 3, 2012



Harvard may be the largest but UTIMCO and Richmond allocate the most by assets and percentage under management, respectively


By Susan Barreto

Once seen as hedge fund investing pioneers, many of the US university endowments are now becoming hedge fund bears. Very few have continued to invest in hedge funds at a time when the focus has shifted to keeping the entire portfolio afloat rather than simply outperforming equities. On a percentage level, the University of Richmond is the most bullish on hedge funds with a 63% allocation, while the University of Texas has placed the greatest assets into absolute returns with an $8 billion portfolio.

According to the latest InvestHedge Billion Dollar Endowment Club Survey, US universities continue to invest in hedge funds but many - especially those that have been forced to change their investment programmes drastically - seem unconvinced and are now wondering if they made the right choices.

There is very little uniformity in this market in terms of size, type or strategy preference. The InvestHedge Billion...

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