European managers "never had it so good"

Denise Loveless, investment manager of GAM's Multi-Eurpoe Fund, a multi-manager fund of European long/short hedge funds, which has around $4.5bn of capital allocated to European long/short managers, notes that while London is still the heart of the European hedge fund industry, most European growth is taking place away from the UK.

"The growth in Europe isn't so much in the London-based community. In our universe, as we're studying it, the growth in Europe tends to be on the Continent, where