Sun, Apr 19, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Escape to the mountains, Part 1: Are UK taxes a good reason to move south?

Friday, October 16, 2009

By Benedicte Gravrand, Opalesque London:

Part one of a four-part series on the possible migration of UK hedge funds to Switzerland.

Consulting firm Kinetic Partners LLP recently told Bloomberg it had helped 23 hedge fund firms move from London to Switzerland in the past 18 months. "Since April, we've started moving another 15 managers, all of a significant size," said David Butler, a founder of Kinetic. "I believe 20% of the hedge fund managers will leave London in the next two years, and many of them will go to Switzerland because there is already a club there for them to join. Once something like this gets momentum, it is very hard to stop."

This is quite a statement - considering London, with around 1,000 hedge funds (figures vary between 900 and 1,400) is home to 80% of the European hedge fund industry. This is compared to Switzerland, which hosts around 3% of it, most of which being funds of hedge funds. According to IFSL, an independent organisation representing the UK financial services industry, London's share of the global hedge fund industry was around 18% and New York's share slightly more than 40% in 2008.

"There has been a lot of talk about people moving to Switzerland, but more talk than actual moves. Some of this may be because hedge funds [a......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Tiger Global falls 2.9% in March, down 5.3% in Q1[more]

    From Reuters.com: Investment firm Tiger Global Management, one of the hedge fund industry's most closely watched players, told clients that its hedge fund lost 5.3 percent during the first quarter, an investor said on Wednesday. Much of the decline came in March when the fund lost 2.9 percent,

  2. It’s not just hedge funds—IMF study finds stability risks from ‘vanilla’ funds[more]

    From MarketWatch.com: Leveraged hedge funds and banklike money-market funds are the parts of the asset-management industry most associated with risks to financial stability. But a report from the International Monetary Fund suggests that “plain-vanilla” mutual funds and exchange-traded funds also ca

  3. Hedge funds gain 2.4% in Q1 driven by currency and commodity markets[more]

    Komfie Manalo, Opalesque Asia: Hedge funds posted positive results last March to conclude a strong first quarter, with performance driven by strong macro trends in currency and commodity markets, complemented by broad-based gains and positioning in event driven, equity hedge and fixed income-b

  4. Hedge funds looking to continue their rally in Q2[more]

    Komfie Manalo, Opalesque Asia: Hedge funds finished the first quarter on a strong note and are looking to continue the rally in the second quarter, said Lyxor Asset Management in its Weekly Brief. The Lyxor Hedge Fund Index is up 0.4% over the week

  5. Hedge funds down -0.17% in March (+1.23%YTD)[more]

    Bailey McCann, Opalesque New York: The hedge fund industry produced an aggregate return of –0.17% in March to end Q1 2015 up 1.23%, compared to the S&P 500 which increased 0.96%, according to the latest data from eVestment. Hedge fund performance returns were mixed in March amid increased equity

 

banner