Continental European institutional investors are moving out of stocks and into bonds, and looking into different asset classes, a new Greenwich Associates study shows.
Equity allocations dropped to 30% at the end of 2001, down from 36% at the end of 1999. North American stocks fell to 4% of assets from 8% in the two-year period.
During the year ended Dec. 31, fixed income jumped to 57% of total assets from 51%.
Also, nearly 50% of continental European institutions surveyed by Greenwich plan to increase their hedge fund allocations over the next three years, and 40% of those surveyed plan to boost their private equity allocations.
