Wednesday, July 16, 2008
Hedgeworld reports that New York still holds the lead in hedge funds over London, although the lead is dropping. There has been speculation that London is winning - but yesterday's article (you need a subscription and it's an interesting read) reports that
"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.
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 20% of the global market share by the end of 2007, about $400 billion across 1,000 hedge funds."