Nearly two-fifths (38%) of institutional investors in the U.S. are abandoning underperforming active strategies that have failed over the past few years as they reconsider their strategies on risk assets, according to CoreData Research’s Third Quarter Equities Sentiment Report, released on Nov. 7.

The report found that 44% of institutional investors are also slowing down their investments in risk assets; 39% have raised their hurdle rate for risk assets; 30% are reducing their exposure to risk assets; while 43% have increased their strategic allocations to government bonds or other cash-like investments.

A spokesperson for CoreData said risk assets include stocks, high-yield bonds, real estate and currencies.