Institutional demand for hedge funds to reach $1 trillion by 2010

Worldwide institutional demand for hedge funds will reach $1 trillion by 2010, according to a survey of institutional investors conducted by Bank of New York and Casey, Quirk and Associates, a Connecticut-based investment consultancy.

That represents a threefold increase from $360 billion this year. Brian Ruane, executive vice-president of Bank of New York, says: “Broadening acceptance of alternative investments, coupled with lower expected returns from traditional investments is driving demand

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