The number of UK charities investing in hedge funds of funds has grown from 3 per cent in 2002 to 10 per cent in 2003, according to JPMorgan Fleming’s Charity Investment Industry Survey. Furthermore, 15 per cent of respondents noted they would consider investing in hedge funds of funds in the future. Similarly, the number of charities investing in single strategy hedge funds has increased from 4 per cent of those surveyed in 2002 to 9 per cent in 2003, with a further 11 per cent also considering these funds for the future, according to the survey. For charities investing in private equity, the incidence of investment increased from 13 per cent of charities surveyed in 2002 to 15 per cent in 2003, with the numbers of those considering private equity for the future rising from 5 per cent in 2002 to 9 per cent in 2003. the number of charities who said they were feeling ‘ill-informed’ about investing in alternative asset classes fell from around half in 2002, to a third of those surveyed in 2003. Nearly a third (28 per cent) of respondents have increased their alternative assets allocation in response to volatile equity markets, up from a fifth of respondents (20 per cent) in 2002, said JPMorgan Fleming.
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