Hedge funds are looking to drop their prime brokers because of a "poor" quality of service, with two thirds believing their broker is not doing enough to facilitate contact with potential investors, according to a survey.

A survey conducted by online hedge fund magazine FINalternatives found that one in three hedge funds were planning to switch prime broker. Three quarters of those funds that rated the personal service they got from their incumbent broker as ‘poor’ said they were looking to move, or had already moved.