Reuters – Hedge fund assets managed in London rose 18 percent to $225 billion last year, making the British capital one of the fastest growing centres for the industry, International FinancialServices London said.
But, IFSL’s survey showed that asset growth in London was lower than in previous years and mirrored the global trend.
IFSL said London-based hedge funds were managing $190 billion at the end of 2004, $119 billion at the end of 2003 and $61 billion at the end of 2002.
Hedge fund data-providers say more than 75 percent of the money invested in the industry, estimated at more than $1 trillion, is based in New York.
However, London is by far the largest centre for European hedge fund managers. Other locations include France, Spain, Sweden and Switzerland, IFSL said.
“The 700 hedge funds located in London accounted for three-quarters of European based hedge fund assets at end-2005,” IFSL said in a statement.
