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From the Opalesque team:

As the French government prepares to levy taxes on bankers, French officials on Wednesday clarified that hedge funds and private equity firms would not be targets of these temporary taxes. There is a strong possibility that leaving hedge funds out of this tax penalty will result in boosting the industry as top traders leave investment banks in order to join or launch hedge funds.

This would be a significant development for the French hedge fund industry, which we learned in the newest Opalesque Roundtable (France) may have a history of strong performance but that has not seen the rapid growth in numbers other hedge fund centers have experienced.

While Roundtable participants cited regulation, and performance as the strengths of the French hedge fund industry, the hurdles that hedge fund managers face are: the lack of investors visiting French hedge fund managers, the analytical slant of French hedge fund marketing, and the wariness of French investors to allocate to hedge funds. However, the hedge fund community is taking steps to overcome these things.

Coordinating marketing efforts to foreign investors Christian Bartolin, Managing Director and Secretary General of $2.5bn asset manager HDF Finance, who is also head of the Alternative Management Commission of AFG, the French Asset management Association spoke about steps the industry is ......................

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