Almost 60% of foundations and endowments responding to a Hennessee Hedge Fund Advisory Group survey support the SEC's hedge fund registration proposal. However, respondents who opposed the rule "manage three times more capital, allocate 46% more to hedge funds, and have 50% more years of experience investing in hedge funds," the Hennessee survey noted. The average foundation and endowment in favor of registration managed $536 million, compared with $1.8 billion for those against the proposed rule, the survey found. Respondents in favor of the proposal have an average of 15% in hedge funds, while those against the registration requirement have an average 22% allocated to the asset class. Fifty-nine percent of 46 endowments and foundations that responded were in favor of the SEC proposal, while 30% were opposed and 11% had no comment, according to Hennessee. The respondents have a combined $44 billion in assets. Hennessee plans to send the survey results to the SEC.