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The Facts Public Pension Funds Investing in Hedge Funds by region Download Data Public Pension Funds Investing in Hedge Funds by Region

Fig. 1: Total Number of North America-Based Public Pension Funds in Hedge Funds and Average Allocation Fig. 2: Leading North America-Based Public Pension over Time, 2010 - 2016 Funds Investing in Hedge Funds

450 10.0% Allocation to Hedge 8.9% 9.0% Average Allocation to Hedge Location 400 8.3% 8.4% 9.0% Funds ($bn) 7.1% 8.0% Funds (As a % of AUM) 350 7.1% 7.4% Teacher 306 307 7.0% 14.9 US 300 281 286 287 System of Texas 263 6.0% 250 241 5.0% Ohio Public Employees' 200 13.2 US 4.0% Retirement System 150 No. of 3.0% CPP Investment Board 11.8 Canada 100 2.0% 50 1.0% Ontario Teachers' 11.4 Canada 0 0.0% Pension Plan 2010 2011 2012 2013 2014 2015 2016 Florida State Board of 10.4 US No. of North America-Based Administration Public Pension Funds in Hedge Funds Average Allocation to Hedge Funds (As a % of AUM) Source: Preqin Online

Source: Preqin Hedge Fund Online Fig. 3: Total Number of Europe-Based Public Pension Funds in Hedge Funds and Average Allocation over Fig. 4: Leading Europe-Based Public Pension Funds Time, 2010 - 2016 Investing in Hedge Funds

180 7.0% Allocation to Investor Location 6.2% Average Allocation to Hedge 160 6.0% Hedge Funds ($bn) 5.4% 6.0% 5.2% Funds (As a % of AUM) 140 5.1% 5.0% 5.1% ABP (Managed by APG 5.0% 22.2 Netherlands 120 - All Pensions Group) 104 121 100 4.0% 90 89 89 85 79 Keva 3.3 Finland 80 3.0% 60 Bayerische No. of Investors 2.0% 2.2 Germany 40 Versorgungskammer 1.0% 20 AP-Fonden 3 1.8 Sweden 0 0.0% 2010 2011 2012 2013 2014 2015 2016 AP-Fonden 1 1.8 Sweden No. of Europe-Based Public Pension Funds in Hedge Funds Source: Preqin Hedge Fund Online Average Allocation to Hedge Funds (As a % of AUM)

Source: Preqin Hedge Fund Online Fig. 5: Total Number of Asia & Rest of World-Based Public Pension Funds in Hedge Funds and Average Allocation Fig. 6: Leading Asia & Rest of World-Based Public Pension Over Time, 2010 - 2016 Funds Investing in Hedge Funds

50 Allocation to 9.9% Investor Location 10.0% Hedge Funds ($bn)

45 9.2% Average Allocation to Hedge 40 Funds (As a % of AUM) Military Mutual Aid 6.8% 791.0 South Korea 35 7.4% 8.0% Association 6.0% 5.7% 30 27 Scientists and Engineers 5.0% 25 26 6.0% 774.6 South Korea 25 Mutual Aid Association 23 20 17 4.0% Sentinel Retirement No. of Investors 15 436.8 South Africa 10 11 Fund 10 2.0% Thailand Government 5 428.5 Thailand 0 0.0% Hospital Authority 2010 2011 2012 2013 2014 2015 2016 379.0 Hong Kong No. of Asia & Rest of World-Based Provident Fund Scheme Public Pension Funds in Hedge Funds Source: Preqin Hedge Fund Online Average Allocation to Hedge Funds (As a % of AUM)

Source: Preqin Hedge Fund Online

15 Hedge Fund Spotlight / February 2016 © 2016 Preqin Ltd. / www.preqin.com