PRINT THIS PAGE Hedge Funds 200815/07/2008. Source: IFSL.
Assets under management of the global hedge fund industry increased 30 per cent in 2007 to a record $2.25bn, according to the 2008 edition of IFSL’s Hedge Funds report. Most of this growth was in the first three quarters, as market turbulence in the latter part of the year resulted in a slowdown in inflow of new funds and a decline in average returns. New York remained the leading global location for hedge fund managers with 40% of global assets. Its share was down from 50% in 2002 as growth of the hedge fund industry in Europe and Asia outpaced growth in the US. This was largely a result of a rise in institutional portfolio allocation into hedge funds in these regions during this period.
London’s share of global hedge fund assets doubled to 20% in the five years up to 2007. Assets managed by hedge fund managers in London totalled around $400bn in 2007. The 1,000 hedge funds located there accounted for four-fifths of European based hedge fund assets. If figures for fund of funds and US hedge funds with a trading desk in Europe are taken into account, London’s share of the European market was more than 90%. Other locations for hedge fund managers in Europe include France, Spain, Sweden and Switzerland. The London Stock Exchange is the location of choice for listing fund of hedge funds in Europe.
London is a leading centre for hedge fund services notably prime brokerage services offered by the leading London based investment banks. More than 90% of European prime brokerage activity is conducted through London.
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IFSL is an independent, not-for-profit membership organisation with 40 years’ experience of promoting the UK-based financial services industry throughout the world. Go to www.ifsl.org.uk.
International
Our wide-ranging membership reflects the UK’s position as the leading marketplace for global financial business, irrespective of nationality.
Cross Sectoral
Our members are drawn from companies that span the whole financial services sector, including banking, insurance, trading exchanges, regulatory bodies and professional services.
Influential
Our extensive links with business and government provide a unique platform for promoting UK financial services to the world. We are the leading voice in the UK calling for the liberalisation of international markets for financial services.
Dynamic
We facilitate contacts and business opportunities for our members with overseas leaders and policy makers. We understand the global environment for financial services and promote the UK-based industry’s unique advantages.
In Partnership
We are the designated private sector partner of UK Trade & Investment (UKTI) and the Corporation of the City of London for international promotion of UK financial services. We support the overseas travel programme of the Lord Mayor of the City of London.
We work closely with the worldwide network of UK Embassies, Consulates and High Commissions, and with all the Government Departments and regional bodies supporting financial services (especially HM Treasury, the Foreign and Commonwealth Office and the Department of Business, Enterprise and Regulatory Reform).
In the City and Nationwide
We are located in the heart of the City of London alongside the major financial services businesses and institutions. However, we do represent members from all parts of the UK.
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