Institutional Investor Survey 2014 (Quinnipiac University and The Connecticut Hedge Fund Association)

December 2014

KEYWORDS:

Authors:

Quinnipiac University and The Connecticut Hedge Fund Association

Organizations:
  • Quinnipiac University and The Connecticut Hedge Fund Association

Summary:

The Alternative Investment Institute at Quinnipiac University conducted its biannual institutional
investor survey in conjunction with the Connecticut Hedge Fund Association. Our purpose
is to gather insights into the view of institutional investors about their current market beliefs
and opinions on various investment strategies. In particular, we focused on the role of hedge
funds in institutional portfolios. We received responses from investors who together manage
$1.12 trillion dollars in assets. All of our survey respondents are located in the United States.
The questions answered reveal a snapshot of how large asset managers are currently making
their investment decisions.
Some highlights include:
1. Our sample of investors favors U.S. equities, private equity, and hedge funds over
fixed income and commodities.
2. They are investing directly in hedge funds, though some also use funds-of-funds.
This is consistent with the increasing “institutionalization” of the hedge fund industry.
3. Event driven, long/short equity, and global macro funds are the most popular
strategies in our sample.
4. Over half of the investors surveyed had additional liquidity restrictions, such as
gates or side-pockets, that affect 5% or more of their hedge fund allocation during
the financial crisis.