•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

From Precy Dumlao, Opalesque Asia:

A number of hedge funds have been leaving London to set up shops in Switzerland lately and for many a good reason. Switzerland offers a strategic location, provides good quality of life, infrastructure and a wealth of educated people.

Experts estimated that the U.K. government may have lost up to $791m in unearned taxes annually after one in four hedge fund managers moved from London to Switzerland. Big hedge funds, including Alan Howard, founder of Brevan Howard Asset Management LLP, Europe's biggest hedge fund, and Mike Platt of BlueCrest Capital Management Ltd., relocated to Switzerland because of its stable tax system and to avoid "fiscal volatility and political hostility" in the U.K. Consultancy firm Kinetic Partners LLP estimated that the hedge fund giants will cost the UK treasury 200 million pounds in lost revenue.

"We moved over from the UK two years ago for a range of reasons; predominantly for quality of life aspects. The financial world is pretty mobile in terms of people and assets compared to a lot of other industries, because you do not have factories or anything like that... We all know London has not necessarily become the more attractive place in the last couple of years, which creates an opportunity for a country like Switzerland to provide an alternative for people w......................

To view our full article Click here