Komfie Manalo, Opalesque Asia:
Some fund managers can benefit from Florida’s lower operating costs and taxes and from the proximity to Latin American investors, according to Thomas Belkin, vice president on the buy-side business development team at the Chicago offices of Eurex Exchange, who adds that not everybody travels to Florida only for leisure.
"Depending on the strategy type, years of trading track record, assets under management and other factors, certain investment managers will benefit more from the advantages found in Florida than others.
"For example an emerging fund manager has high travel cost in order to build up its investor network and asset base. These expenses can outweigh easily the savings on taxes, office space and staff in Florida compared with NYC or Toronto, where managers can meet plenty of local investors. This may look different for midsize or large funds," Belkins said at the recent Opalesque Florida Roundtable.
Andrew H. Jacobus, President and CIO of investment advisory group FINSER International Group commented hat Latin American investors visit Miami because it more accessible for them to conduct business with either investment advisors or fund managers.
Belkin added that many South Americans visit Miami to boost their local businesses, particularly because there is a limited ......................
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