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Benedicte Gravrand, Opalesque Geneva: Some recent research reported that there was a trend, among institutional investors, away from funds of hedge funds and towards single-manager hedge funds. Opalesque talked to advisors and FoHFs managers about this apparent shift of assets.

More than half of the large U.S. pensions’ HF assets were invested with single managers in 2007 Bloomberg reported earlier this month on the trend among pension-plan investors to shift from using funds of hedge funds to investing directly in individual managers (Source.) One of the reports said that U.S. hedge-fund investors were paring the roughly $80 billion they pay in annual fees by cutting out the middlemen. For the first time, more than half of the hedge-fund assets of the 200 largest U.S. pension plans were invested with individual managers last year, data compiled by Pensions & Investments show. The proportion of pension assets overseen by funds of funds fell to 49% on Sept. 30 from 57 percent in 2002, when the magazine started collecting the information. (Source.)

While it’s easy to think that hedge fu......................

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