Wednesday, 27 May 2015
Last updated 30 min ago
Mar 24 2014 | 2:08pm ET
The U.K.’s 20 largest hedge funds manage more than four out of every five pounds invested with the industry in the country, according to a new report.
The Financial Conduct Authority said that the top 20 firms control 82% of Britain’s hedge-fund assets under management. The regulator said the figure demonstrates the need for more oversight of the industry, in which London is the second-largest center, after New York.
“With nearly 20% of global assets under management here, it is important that people have confidence in how we regulate this market,” the FCA’s Clive Adamson said. “The challenge from us to the industry is to ensure that it operates to the highest standards of integrity.”
The FCA said its report is based on data from 49 firms and 106 funds. All told, 450 hedge funds are registered with the regulator.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…