The importance of hedge funds in the major financial centres was underscored by a report published today that found that several featured prominently in a list of the biggest net buyers and sellers of equities in New York and London during the second quarter of this year.

According to the report by data research company Ipreo, seven hedge funds - including Lansdowne Partners and Paulson & Co - feature in the top 10 buyers and top 10 sellers of equities based in New York and the top 10 buyers and top 10 sellers based in London.