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By Beverly Chandler, Opalesque London

The panel at the recent Opalesque Roundtable in London discussed London’s dominant role in Europe as a hedge fund centre. Sponsored by Custom House Group and Taussig Capital, the seven strong group felt that London was a dominant location for hedge funds despite some notable disadvantages.

Charles Tritton of De Putron Fund Management commented on the UK in the context of both Europe and the US. "The U.S. is still the dominant player as far as hedge funds and investors are concerned and indeed I think they have probably moved even further ahead than they were pre-crisis." In a recent meeting with a large allocator based in the US, Tritton found that they were generally disappointed by the performance of the European hedge fund industry and had increased their U.S. exposure at the expense of their European hedge fund holdings while keeping their exposure to Asian managers static. "On a global basis, Europe has disappointed. As far as Europe is concerned, London is still very much the dominant location for hedge funds. There has been a lot of talk about Switzerland, Monaco, and various other places within Europe gaining market share, but in terms of AuM they are still small, especially when it comes to where the risk is being taken."

Tritton also noted that at De Putron Fund Management they have an international staff, with Norwegians, Swedes, French, Germans and English workers and that the service providers ......................

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