Sat, Mar 25, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Financiers relocate to Switzerland ‘because that's where the money is’ - discussion

Tuesday, July 27, 2010

Benedicte Gravrand, Opalesque London:

An interesting discussion has been taking place on Linkedin.com since the beginning of the month, about hedge funders relocating to Switzerland. It was started by Omkumar Enkannathan, Vice President at New York-based hedge fund firm SAC Capital, who asked: “Alan Howard of Brevan Howard group and many others that I hear in recent news have relocated to Geneva. Why is that?”

Here are a few interesting – and at times philosophical – answers that came to him.

Taxes Top UK tax rates that went up 50% in April was given as a first reason. “It's not likely to ever become "most" but "some" will if the UK continues to make itself unattractive tax-wise. However, the best-off always manage to find a way!” commented a business development director from Luxembourg.

“As finance professionals, they are acutely aware of the poor ROI [return on investment] they receive for their taxes. In countries like the US, where our politicians increase the debt approving bills they have not read, they see a very clear picture of taxes to come. While Lugano is no NYC or London, with the money you save in taxes, a first class flight to each location on a quarterly basis with 5 star accommodations will leave your principle untouched,” noted a company director from New York.

But some think that taxes can only be a catalyst, not a substantial reason for relocating.

“Having just returned from two weeks of running around......................

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. Hedge fund liquidations in 2016 surpass 2009 levels, new launches decline[more]

    Benedicte Gravrand, Opalesque Geneva: Even as the hedge fund industry's total assets exceeded the $3tln milestone last year, hedge fund liquidations increased. So much so that 2016 had the highest number of liquidations since 2008, claims the latest HFR Market Microstructure Report, re

  2. Hedge funds find no joy in macro as returns lag Trump rally[more]

    From Gulfnews.com: In 2017, macro hedge funds were expected to shine. So far? Not so much. It's been a far from impressive first two months for funds that trade around macroeconomic events. Discretionary funds rose just 0.3 per cent through February, according to Hedge Fund Research Inc., while the

  3. Strategies - Billionaire investor Marc Lasry shares how he's playing markets right now, Classic models are failing FX hedge funds desperate for return[more]

    Billionaire investor Marc Lasry shares how he's playing markets right now From CNBC.com: Buy on the prospect of deregulation. Sell on the enactment of deregulation. That's the strategy that billionaire investor Marc Lasry is implementing, according to an interview with CNBC in Las Vegas

  4. Opalesque Exclusive: Aberdeen makes the case for the lower mid-market[more]

    Bailey McCann, Opalesque New York: Aberdeen Asset Management has released a new paper focused on lower mid-market private equity. According to the paper, this segment of the private equity market is gaining popularity with private equity investors that are looking for multiple expansion and less

  5. Hedge funds await outcome of French elections, feel pinch on lower oil prices & weak dollar[more]

    Komfie Manalo, Opalesque Asia: Hedge funds felt the pinch of lower oil prices and weak U.S. dollar as the Lyxor Hedge Fund Index was marginally down as of the week ending 14 March, Lyxor Asset Management said in its Weekly Briefing. The Lyxor He