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In the week ending 06 May, 2016, institutional investors are not following New York City's lead to dump hedge funds, data showed. Through April 28 2016, institutions handed hedge funds terminations of $3.96 billion, invested $3.56 billion in new hedge funds or hedge funds of funds; and have searches on for $20.32 billion, according to Pensions & Investments.

Meanwhile, Vicki Fuller said the hedge fund industry’s “2 and 20” fee model is unfair; Jack Inglis said that the pressure to exit hedge funds is a public pension problem, not an industry problem, but a survey by State Street Global has found that institutional investors are warming to alternative ways of viewing portfolios. However, AIG has submitted notices of redemption for $4.1bn hedge fund holdings and MetLife said it would withdraw $1.2bn from its $1.8bn hedge fund portfolio. On the other side, an increasing number of global sovereign wealth funds and pensions are looking to diversify their portfolios to include alternative investments.

Students from Krannert School of Management have launched a hedge fund that will manage real clients’ money and investments; Brevan Howard is raising cash for two new low-cost, liquid businesses; and Crowdfunder has hired Steven McClurg as it launches a VC index fund.

Henderson Global Investors has launched its first UCITS-compliant multi-asset fund; and Cohesion Investments has partnered with Indian asset manager Reliance Capital to launch the India Equities Portfolio Fund.

Myriad Asset said it would ......................

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