Reuters UK – Britain’s temporary ban on short-selling financial stocks is irksome for London’s hedge funds and is another factor which could help undermine the city’s pre-eminent position in Europe as a hedge fund base.

Short-selling is a key trading strategy for hedge funds as they aim to profit regardless of whether a stock is rising or falling, but London’s curbs come as rival centres seek to attract hedge funds to bolster their financial sectors.

Switzerland, France, Luxembourg and Scandinavia have all begun to emerge as alternative options for hedge funds looking for lower tax and a higher quality of life.

The European industry could follow the U.S. model and develop in a number of regional centres, although London’s upmarket St James’s and Mayfair districts are likely to remain the heart of the industry in Europe for at least the time being.

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FINalternatives- London-based VCM Fund Management is prepping a trio of hedge funds to invest in alternative energy, macro futures and emerging hedge fund managers.
 
The firm next month will launch two hedge funds in partnership with K2 Capital, the alternative energy hedge fund shop founded by former Vantage Derivatives head trader Andrew Swaine. First up, the firm will offer the VCM K2 Alternative Energy Segregated Portfolio, a thematic, global equity long/short and derivatives trading strategy investing in companies positively affected by climate change with a specific focus on the energy sector. It uses a bottom-up approach to stock selection focusing on value companies in the long book, with an emphasis on large cap stocks.
 
“The portfolio’s large cap bias naturally creates a low volatility, which is further enhanced through protective hedging,” said the firm.

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