Institutional investors haven't been this happy with the performance of their hedge fund investments in years, according to a new survey by Preqin, a research and consultancy firm focused on alternative asset classes.
In its December Hedge Fund Spotlight report, Preqin says investor satisfaction with hedge funds is the highest in its survey history.
"Eighty three percent of the 148 investors that Preqin conducted interviews with in November 2013 indicated that hedge funds had met or exceeded their performance expectations in 2013, an impressive change from the negative outlook on performance investors expressed for 2012 returns," says Preqin.
The chart at the top shows the decrease in those investors saying hedge funds failed to meet their expectations in 2013.