“London, says the report, is becoming more attractive to companies because of the US’s stricter immigration policies. It also says the US regulatory framework is ‘a thicket of complicated rules’ and pinpoints the 2002 Sabanes-Oxley Act (which tightened up accounting practices in the States) and a litigious environment as further discouraging companies setting up in the US. The result of this is that hedge fund assets in the UK are growing at 63% annually, compared to just 13% in the US.”