Survey is for: June 2012
Source: Federal Reserve

Special Question

Client Risk Appetite:

Since the beginning of 2012, how has your overall assessment of the
appetite of your institutions clients of each specified type to bear
investment risk changed, considering all transactions and activities
that involve current or potential credit risk exposure for your firm?

A. Most-favored hedge funds (as a consequence of breadth, duration,
and/or extent of relationship)

# of
Respondents Percent

Increased considerably 0 0.0
Increased somewhat 6 30.0
Remained basically unchanged 12 60.0
Decreased somewhat 2 10.0
Decreased considerably 0 0.0
————————————
Total 20 100.0

B. Other hedge funds

# of
Respondents Percent

Increased considerably 0 0.0
Increased somewhat 3 15.0
Remained basically unchanged 15 75.0
Decreased somewhat 2 10.0
Decreased considerably 0 0.0
————————————
Total 20 100.0

C. REITs

# of
Respondents Percent

Increased considerably 0 0.0
Increased somewhat 4 24.0
Remained basically unchanged 11 65.0
Decreased somewhat 2 12.0
Decreased considerably 0 0.0
————————————
Total 17 101.0

D. Mutual funds, ETFs, pension plans, and endowments

# of
Respondents Percent

Increased considerably 0 0.0
Increased somewhat 2 11.0
Remained basically unchanged 16 84.0
Decreased somewhat 1 5.0
Decreased considerably 0 0.0
————————————
Total 19 100.0

E. Insurance companies

# of
Respondents Percent

Increased considerably 0 0.0
Increased somewhat 4 22.0
Remained basically unchanged 11 61.0
Decreased somewhat 3 17.0
Decreased considerably 0 0.0
————————————
Total 18 100.0

F. Separately managed accounts established with investment advisers

# of
Respondents Percent

Increased considerably 0 0.0
Increased somewhat 2 11.0
Remained basically unchanged 15 83.0
Decreased somewhat 1 6.0
Decreased considerably 0 0.0
————————————
Total 18 100.0

** MNI Washington Bureau: 202-371-2121 **

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