By Neil Wilson
A steady stream of stories in recent weeks indicates that
London looks to be mounting an ever-stronger challenge to New
York's traditionally dominant position as the leading center of
global hedge funds. From small beginnings only a few years ago,
the growth of assets of London-based firms has indeed been
impressive. And the outlook for managers based in the United
Kingdom continues to look quite positive, notwithstanding some
lingering concerns about the tax system - which is raising the
prospect of more serious competition from other European
centers, such as Switzerland.
Nonetheless, it seems to me that the notion that London is
already a serious rival to New York looks somewhat premature.
For one thing, the latest statistics on the size and shape of
the industry - which we revealed last month in our first-ever
HedgeFund Intelligence Global Review - still show New York has
a long lead...