What the investors really, really want

Hedge fund managers, eager to raise assets from the traditional long-only pension and other institutional world, are working hard to find out what it is these investors want.

It's not looking good, according to the survey of European pension funds published earlier this year by investment consultants Watson Wyatt and Indocam, the French bank and alternative fund of funds manager.

Their researches showed that, in fact, few of the pension funds from Belgium, Denmark, France, Germany, Ireland, the

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