Tax-exempt institutional investors are putting more money in foreign...

Tax-exempt institutional investors are putting more money in foreign equities, domestic small-cap stocks, hedge funds and private equity partnerships because of concerns about the U.S. stock market and poor economic performance in the rest of the world, according to a report from Greenwich Associates. The study is based on interviews with nearly 1,500 fund professionals in the United States. Institutions with total assets ranging from $100 million to more than $5 billion were interviewed. The report also notes that pension funds and endowments are continuing the trend of indexing U.S. equities.