Collectively, 84% of institutional investors surveyed expressed satisfaction with their hedge fund portfolio performance in 2013 -- 21% said returns exceeded their expectations and 63% said returns met expectations, while 16% said returns fell short.
By type, 59% of investors in long/short equity funds indicated returns exceeded expectations, followed by event driven (27%), long/short credit (13%), distressed (12%) and macro (9%).
Forty-nine percent of managed futures/CTA investors and 43% of macro investors said returns fell short of expectations.
In November, research firm Preqin interviewed 148 institutional investors to gauge their outlook for hedge funds in the coming year.
