London Hedge Funds Relocating
European Hedge Funds Still Favor London Hubvalue the "ease of international travel, good internal infrastructure and access to a diverse labor market over fiscal policy" which London offers.
"Taxation is only one part of the location decision, and London is successful as a business location because of it is an attractive place for people to work, it provides easy access to all corners of the globe, its infrastructure is improving and it still an easy place to do business in," said Elaine Rossall, an associate in Cushman's European research group.
There has been much speculation that London's hedge funds will relocate en mass to more tax-friendly destinations amid plans for a UK "super-tax" on thriving financial institutions and high net worth individuals.
London is home to 85 percent of Europe's hedge funds and it is claimed that 18 funds are currently contemplating relocating to overseas locations, principally Switzerland and New York, as the tax burden threatens to spiral out of control, Cushman said. Source
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