InvestmentNews- Despite the market’s current volatility, the love affair between ultrawealthy investors and hedge funds is still torrid, according to a new survey by the Institute for Private Investors, a New York-based association for very wealthy families and their advisers.
Ultrawealthy individuals are generally considered to be those with at least $50 million in investible assets.
Nearly one-third of IPI members surveyed in the organization’s annual family performance tracking study said they would put more money into hedge funds or a fund of funds next year.
Last year, the average allocation for an IPI member in a hedge fund was 24%, up more than 80% from the amount in 1999, said IPI director Kristi Kuechler, who is based in San Francisco.
