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Simon Osborn Benedicte Gravrand, Opalesque Geneva:

What would happen to the fund industry if the eurozone were to deteriorate or even break up? Would funds move to other domiciles, and which ones? According to Simon Osborn, CEO of FundDomiciles.com, we don’t really know. In fact, nobody has a clue. It’s complicated.

Wait-and-see stance

Although we will know a little more after March 20th, when Greece has to make a bond payment, he said during a seminar held in Geneva on Wednesday, organised by his firm, a UK-based data provider.

The caretaker government of Premier Lucas Papademos must come up with a €14.5bn bond payment on March 20th, and also faces general elections the month after, reports Bloomberg. At the same time, a second bailout plan is in the works and may be finalised in the next few days. It would include a (voluntary) loss of more than 70% for bondholders, and loans would exceed €130bn. Greece will default on its debt and will likely leave the euro, Nobel economics laureate Paul Krugman reportedly said yesterday.

For those funds that have a euro share class that invests in assets based on another currency, very little has been done or discu......................

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