(Bloomberg) — London-based hedge funds will consider relocating to Swiss financial centers, such as Geneva, Zurich, Pfaffikon and Zug, if the tax and regulatory burden increases, according to Ernst & Young.
“If foreign states continue pressuring the hedge fund industry by putting taxes and the regulatory burden up, then Geneva and Switzerland could be a good turf for setting up hedge funds,” Castagna Cataldo, head of asset management at Ernst & Young Switzerland, said in an interview from Zurich.
Geneva’s appeal is increased by its existing hedge fund community and by its “international flavor” with the presence of the United Nations and other international organizations, said Cataldo, who contributed to a global report on hedge funds last month.
