Alternative Investment Management Association Representing alternative asset managers globally
26 January 2009
The UK hedge fund industry employs an estimated 40,000 people. That is according to the Alternative Investment Management Association (“AIMA”), the trade body for the hedge fund industry. The figures are the first to assess the total number of jobs in the sector in the UK.
AIMA estimates that the number of people employed directly by hedge funds and funds of hedge funds is an estimated 10,000, while there are also at least 30,000 jobs among the industry’s advisers and service providers, such as prime brokers and legal and accounting services, that are dependent on the industry.
The figures were produced by AIMA’s research department, and were based on extensive consultation with the Association’s members. AIMA has 400 corporate members in the UK, including the leading industry hedge fund managers, fund of hedge funds managers, advisers and service providers.
Tom Kehoe, Research Manager of AIMA, explained, “We came up with these figures through surveying our members and using all the latest research to extrapolate total figures for the industry. These figures are estimates, but they are informed by all the data at our disposal as the industry’s trade body. These are conservative estimates, our calculations were cautious rather than optimistic.”
Andrew Baker, Chief Executive of AIMA, said, “These figures are the first to be produced for the hedge fund industry in the UK, and what is striking about them is they show how big the sector is. The hedge fund industry is a major part of the financial services sector of the UK economy and it does contribute substantially in terms of employment figures.”
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For media enquiries, please contact Christen Thomson, AIMA Director of Communications, on +44 (0)2078228380; email – firstname.lastname@example.org
As the only truly representative global hedge fund association, AIMA, the Alternative Investment Management Association, has 1,280 corporate members worldwide, based in 47 countries.
Members include leading hedge fund managers, fund of hedge funds managers, prime brokers, legal and accounting services and fund administrators. They all benefit from AIMA’s active influence in policy development, its leadership in industry initiatives, including education and sound practice manuals and its excellent reputation with regulators, worldwide.
AIMA is a dynamic organisation that reflects its membership’s interests and provides them with a vibrant global network. AIMA is committed to developing industry skills and education standards and is a co-founder of the Chartered Alternative Investment Analyst designation (CAIA) – the industry’s first and only specialised educational standard for alternative investment specialists. For further information, please visit AIMA’s website.