Pensions are raising allocations to alternatives, with investments in Asia accounting for a fast-growing proportion of assets, says a Towers Watson survey.
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The consultancy’s clients awarded over 50% more hedge fund mandates and 30% more equity mandates in 2010 than the previous year, but there was a 30% drop on the bond side.
A domestic equity focus saw AUM among Chinese managers swell by 56% last year, driven by retail demand for mutual funds. The rate is twice as fast as peers in the US and three times as fast as Europe.