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From Precy Dumlao, Opalesque Asia:

Hedge fund and fund managers proved to be two of the most resilient financial services in the UK in 2009 as the UK Financial Services Authority (FSA) recorded a steady registration of hedge funds in the fourth quarter last year.

London-based Corporate financial advisor IMAS said in its “Trends in the regulated UK financial services industry” report the stable hedge funds registration in Q4-09 was in contrast with the decline in the private equity industry from the third and fourth quarter during the same year.

Employment in the UK hedge fund and fund industry also showed signs of recovery. New joiners to the industry fell to 13,000 in 2009 from an estimated 20,000 new employees in both 2007 and 2009. But the decline in employment has improved for three successive quarters, an indication that the industry is slowly recovering from the lows of early 2009.

Toscafund Asset Management’s chief economist Savvas Savouri also believes in the continued stability of UK’s hedge fund industry and that tax concerns were unfounded. "There are too many aspirational economies that don't have infrastructures of their own. We have an affinity with India, with the Gulf, even with China, via Hong Kong. These markets will want a western hub," he ......................

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