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Institutions looking for downside protection

Long/short equity and global macro strategies were the most-issued hedge fund searches in the first quarter by institutional investors that might be looking to manage future market volatility. After several weeks of market swings and mounting geopolitical questions, large asset owners are reaching for more downside protection. According to performance data collected by Preqin, hedge funds outperformed the S&P 500 index by 157 basis points; for the trailing 12 months ended March 31, hedge funds trailed the large-cap index by about 380 basis points.

Funds of funds and family offices issued the most searches among the major investor types, while private and public pension funds represented 14.8% and 6.8% of the searches, respectively.

Fund search percentages will not add up to 100% because multiple responses were permitted.