On November 5, 2012, Ernst & Young released the results of its most recent annual global hedge fund survey, conducted in association with Greenwich Associates, in which one hundred of the world’s largest hedge fund managers and 50 major institutional investors representing $715 billion invested in hedge funds revealed their often differing views on topics of current interest to hedge fund industry participants.  Topics covered by the survey included the effectiveness of hedge fund regulation; the alignment of fund manager compensation with risk and performance; manager selection and redemption criteria; regulatory, capital, technology and hiring expenditures; fund of funds; and Eurozone considerations.  This article summarizes the key findings from the survey.  See also “Ernst & Young’s Arthur Tully Talks in Depth with Hedge Fund Law Report About Hedge Fund Governance, Succession Planning, Valuation, Form PF and Administrator Shadowing,” Hedge Fund Law Report, Vol. 5, No. 11 (Mar. 16, 2012).