On the whole, pension funds arent thrilled with funds of hedge funds, but that wont stop them from pouring more into the vehicles. A new survey from Mercer Investment Consulting shows that less than one-quarter of pensions are satisfied with FoHFs, while 28% are dissatisfied. According to the survey, one-third of pension funds worldwide invests in FoHFs. Less than half of the 180 pension funds surveyed were satisfied with their FoHF manager, but 54% plan to increase their allocation to hedge funds. In fact, according to Mercer, first generation investors are thinking about moving some of their investments to single-strategy funds. Of those funds not currently investing in funds of hedge funds, 19% say they plan to begin.