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.<\/p>\n
But, IFSL’s survey showed that asset growth in London was lower than in previous years and mirrored the global trend.<\/p>\n
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.<\/p>\n
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.<\/p>\n
However, London is by far the largest centre for European hedge fund managers. Other locations include France, Spain, Sweden and Switzerland, IFSL said.<\/p>\n
“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.<\/p>\n