London Grows, but New York Still Hedge Funds' Capital
Daily News; White Plains (July 14, 2008)
Author: Jacob Bunge, Financial Correspondent
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LONDON (HedgeWorld.com) - New York remains the hedge fund capital of the world despite growth in London over the past few years, according to a report from International Financial Services London, released Monday [July 14].
Though there has been much discussion of the United Kingdom taking market share from the United States due to looser U.K. financial regulations, New York is still home to 40% of all global hedge fund assets. Another 26% of assets are managed elsewhere in the United States, chiefly in states like Connecticut, California, Illinois and Florida.London Grows, but New York Still Hedge Funds' Capital
However, New York's 40% market share is down from 50% of total hedge fund assets in 2002, with institutional investors allocating greater sums of money to European and Asian hedge funds. Over that same five-year period, London saw total U.K. hedge fund assets double to about...
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