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
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
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