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London hedges grow fast

Hedge fund assets managed from London grew by 60 per cent last year, reaching a total of over 105bn, according to International Financial Services London.

IFSL’s annual hedge fund report shows London’s share of the global hedge fund market growing from 15 per cent to 20 per cent, putting London second to the US which has a 69 per cent share of global hedge fund assets.

The London growth is largely due to increased investment by European institutional investors.

London’s appeal includes local expertise, client and market proximity, strong asset management and a favourable regulatory environment, says the report.

The city continues to dominate the European hedge fund industry, with its share of the market growing from 70 per cent in 2003 to 74 per cent last year.

IFSL estimates there were 900 European-based hedge funds in 2004, with two-thirds managed in London.

IFSL economist, and co-author of the report, Marko Maslokovic says: “Institu-tional investment into hedge funds has created this growth and I see no reason why it will not continue. I think this area is certainly growing more rapidly than other sectors.”

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