London Stock Exchange- UK-based hedge fund founders are setting their sights on Switzerland ahead of the implementation of a new tax regime on offshore trusts, it has been suggested.
Investment management consultancy Kinetic Partners told the Financial Times that many hedge fund founders will be affected by the tax crackdown as they are non-domiciles.
It is claimed that the fund management, research and distribution activities of between 20 and 50 per cent of hedge fund operators have moved overseas as a result.
