One fund-of-funds manager says he rushes to be the first out if he suspects that others may desert a hedge fund.
Since 2006, Buffett and hedge fund Protégé Partners have had a bet that over a decade, the cumulative returns of five fund-of-funds picked by Protégé would outperform a Vanguard S7P 500 index fund, including fees.
In terms of LPs, 90percentt of the fund comes from two fund of funds, a foundation and a university endowment.
This was a £125 million "fund of funds" which invested in a number of specialised technology VC funds such as Advent, Amadeus, MTI and Scottish Equity Partners.
Back in 2013, Cambridge University and the city's high tech cluster got a £50 million fund of their own, called Cambridge Innovation Capital.
Schwab, in association with CTC Consulting, an independent affiliate of US Trust that provides portfolio advisory services to high-net-worth clients, will offer three to four funds of funds this year.
Since June, institutions have bought, at high prices, nine funds of funds, compared with eight such deals from 2000 to 2005, according to one major investment bank's data.
FINANCIAL TIMES Pension Fund to Transition Out of Funds of Funds | A Massachusetts pension fund is looking to hire a firm to help it liquidate four funds of hedge funds accounts, as it looks to invest in hedge funds more directly, Pensions & Investments magazine reports.
EF has also raised two funds of its own.
EF has also raised two funds of its own, having just announced its £40 million "Next Stage Fund" to add to £8.4 million raised last year.
In addition, it calls for zero funding of the Eisenhower Memorial Commission, which is overseeing plans to build a memorial to the 34th president designed by architect Frank Gehry.
