The past couple of years have seen an increasing focus on the attractions of Switzerland as a base for hedge fund managers and parts of their operations. While the country’s flexible approach to taxation is an important factor, so are Switzerland’s twin sources of potential investors, institutions such as pension funds on one hand, and a vast pool of private assets under management at private banks and wealth managers on the other. While industry members don’t expect a flood of new arrivals, some big names have come to Geneva and Zurich, reinforcing an industry already known for its sizeable fund of hedge funds sector.
Meanwhile Switzerland is grappling with the issues raised for its fund industry by the European Union’s Alternative Investment Fund Managers Directive. Swiss managers with existing management companies within the EU, mostly in Luxembourg and Dublin, may gain access to the new single market for alternative investments as early as 2013, but uncertainty remains about the conditions under which Swiss-based managers can obtain an AIFMS ‘passport’ once this is extended to non-EU firms.to see full reports see the link.
No comments:
Post a Comment