The alternative investment industry continues to exert its pull on financial professionals in the U.K, according to speakers at a HedgeSupport seminar held in London this week.
With the number of global hedge funds at about 7000 and growing, and when stock markets are at their strongest levels in over two years, the appetite for opening new hedge fund operations continues unabated, according to speakers at the first HedgeSupport evening seminar on ‘Starting a Hedge Fund’.
The seminar featured speakers from the major law firm, Simmons & Simmons, the prime brokerage side of Bear Stearns, the London tax-practice of Pricewaterhouse Coopers and from HedgeSupport.
The HedgeSupport presentations, given by managing director Steve McGuinness, explained the comparative structures of a hedge fund and a managed account and, separately, the requirements for UK FSA authorization.
Over 30 prospective hedge fund managers attended drawn from the dealing desks of investment banks, the traditional investment industry and related financial sectors.
“We were delighted by the level of response to our first event,” said Steve McGuinness. “The level of interest was higher, perhaps, than we had expected and we are already planning further events for April and May.”
HedgeSupport seminars are designed to give attendees an idea how hedge funds work and the processes involved in establishing a hedge fund. The seminars consist of a series of short presentations by hedge fund industry experts highlighting particular issues involved in establishing a hedge fund.