LONDON, Aug 4 (Reuters) - A majority of European institutional investors said their fund investments over the last decade have lagged their expectations, a study on Monday said.
Seven out of 10 of the 101 institutional investors surveyed said returns had fallen short of their expectations, the study by Aquila Capital said.
"The last decade includes some of the most volatile episodes ever seen in financial markets. Our research shows just how substantial the gap has been between investors' expectations and what their funds actually delivered," said Stuart MacDonald, Managing Director at Aquila Capital.
Alternative asset manager Aquila Capital is part of the Aquila Group, which has 7 billion euros ($9.40 billion) under management. ($1 = 0.7448 Euros) (Reporting by Simon Jessop; editing by Olivia Hardy)