HK Hedge Funds Consider New Havens: Financial Times
Given ongoing protests in Hong Kong, Tokyo and Singapore are trying to persuade the financial center's hedge fund managers to relocate. Smaller in terms of employee numbers than international banks, hedge funds have greater mobility. The Tokyo government sent a delegation to Hong Kong and organized a series of meetings for fund executives, report Leo Lewis and Don Weinland for the Financial Times. The delegation maintained a low profile, not wanting to be regarded as capitalizing on Hong Kong’s troubles. Blessed with a recent construction boom construction, Tokyo can offer ample office space. In addition, Tokyo claims that it will provide subsidies to reduce costs of logistics and provide better services for hedge funds. On the other hand, Singapore has the advantage of low tax rates. A office managing director suggests that Hong Kong’s turmoil is bringing “a more structural and operational concern” for hedge funds and “fear of the risk of systematic poor service or poor execution given staff and other resources constraints.” – YaleGlobal
HK Hedge Funds Consider New Havens: Financial Times
Hedge funds in Hong Kong worry about ongoing protests and operational concerns – and considering leaving for safer alternatives elsewhere in Asia
Monday, December 2, 2019
Read the article from the Financial Times about Hong Kong hedge funds being eyed by other Asia financial centers for relocation.
Leo Lewis is the Tokyo correspondent for the Financial Times. Don Weinland is the Beijing correspondent for the Financial Times.
Before the protests: Hong Kong dominated Asia’s hedge funds (Source: Preqin)
Financial Times
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