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Texas university lifts hedge fund investment to 28%

The University of Texas Investment Management Company, which manages the university's $18bn (€15bn) endowment, has said it plans to increase its allocation to hedge funds from 22% to 28%.

The company will increase its allocation to hedge funds by $1bn to $5bn, Reuters reports. It plans to channel the additional funds into US long-short equity funds and Asian equity funds.

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