WEST PALM BEACH, FL (HEDGECO.NET) – The hedge fund institutional market in the United Kingdom is gaining momentum. Martin Currie, an Edinburgh based hedge fund manager, said its assets have reachedUS$1 billion mark, about 18 months ahead of schedule. According to Allan MacLeod, head of hedge fund investments at Martin Currie, the strong inflows are expected to continue as more institutionalinvestors are joining the bandwagon.
The institutional market in the UK has been slower than its counterparts in other European countries as well as the United States. Lately however, a growing number of institutions in the United Kingdom have expressed their appetite for hedge funds.
MacLeod explained, �In the US, foundations and other institutions have been using hedge funds for years. We believe they should be part of an institutional portfolio but there has been little allocation from UK pension funds. But investments from funds such as BT should spur others into action.�
Recently big pension schemes in the UK such as BT pension scheme, considered one of the largest pension funds in Europe, declared its desire to devote about $1 billion into hedge fund management vehicles. It is also anticipated that such trend will be continuing in that region.
Growth of the global hedge fund industry continues to be strong, as new hedge fund laws have been introduced in places like Germany, India, China, Japan, and others. New hedge fund vehicles are also being introduced as investor demand continues to grow stronger.
Martin Currie entered the hedge fund asset management business in 2000, and has seen influx of assets into its portfolios in greater numbers. Today total assets managed by the firm are in the range of $14-15 billion, according to published reports.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
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