November 29, 2006
Party Time For European Hedge Funds
The returns haven’t been as good as expected. But this hasn’t dampened their enthusiasm if the number of new launches is anything to go by. What am I talking about? The effervescent enthusiasm that characterizes the European hedge fund market today.
The number of new fund launches and the level of total fund assets run by European managers have set new records in the first half of 2006. And as the industry grows in size, London is soon proving to be the undisputed leader and center of the European hedge fund management industry. A recent survey EuroHedge shows that more than 170 new European hedge funds were launched in the first six months of this year, up from 150 in the same period a year earlier. Hedgeweek.com reports:
Total European industry assets reached USD401bn at the end of June this year, an increase of 44 per cent from the June 2005 total of USD280bn and of 23 per cent from the total of $325bn at the beginning of 2006. The asset growth came partly from the impact of fund performance, but mostly as a result of fresh capital inflows, especially from private sector and local authority pension funds.
Read more: London tightens grip as European hedge funds boom
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