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Alternative Market Briefing

Public pensions, largest hedge fund investor group, divided on further allocations

Friday, July 08, 2016

Komfie Manalo, Opalesque Asia:

The so-called $1bn Club, a group of institutional investors which have committed more than $1bn to hedge funds, has allocated around $763bn to hedge funds as of May 2016, an increase of 4% from $735bn a year earlier, said data provider Preqin in its latest report.

The club also saw the number of its participants to rise by 11 since 2015, and now includes 238 members. Some 40 institutions have joined this group of the largest hedge fund investors, while 29 have fallen out of the $1bn Club after reducing their exposure to the industry. Although investors in the $1bn Club account for just 5% of all active hedge fund investors, they represent just under a quarter (24%) of the total $3.13tn AUM held by the industry.

Amy Bensted, head of hedge fund products at Preqin, commented, "Despite the small number of participants in the hedge fund investor $1bn Club, they are mighty in influence and represent nearly a quarter of all capital at work in the industry. As such, it is understandable why the redemptions of high-profile institutions such as NYCERS in 2016 and CalPERS in 2014 may attract headlines; these investors are the cornerstone of the asset class and a potential mass exit could herald worrying times for hedge funds."

Public pension funds account for over a quarter (27%) of total $1bn Club capital committed to hedge funds, the largest proportion of any investor type. As of May 2016, ......................

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