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...