InstitutionsÆ hedge-fund exposure to triple

Institutional investment in hedge funds will hit $1 trillion by 2010, according to a survey by Bank of New York (BoNY) in association with Casey, Quirk & Associates, a management consultancy. That is nearly triple the $360 billion now invested in hedge funds by these investors, says the bank.As more pension funds and other investors raise their exposure, absolute returns will become more important than traditional index-linked benchmarks. BoNY also predicts that institutions will …