UK hedge funds see assets jump, beat continental peers

LONDON Wed May 7, 2014 7:26am EDT

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LONDON (Reuters) - UK-based hedge funds saw their assets increase by $57 billion between January 2013 and April 2014, while fund managers in France, Spain and Germany posted a net decrease, data from Preqin research showed.

Firms headquartered in the UK now account for $423 billion in hedge fund assets, more than 10 times the amount of assets managed in any other single European country, it said in a statement.

Following the UK are Sweden, with assets under management of $34 billion; Switzerland, with $31 billion; France, with $20 billion; and Netherlands, with $9 billion.

The UK is also home to most of the start-ups of recent years, it said, with around half of all known new launches in 2013 and so far in 2014.

Within the UK, London is the most popular place to be based, with 90 percent of all hedge fund assets managed from the capital, Preqin added.

(Reporting by Simon Jessop and Nishant Kumar)

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