Top hedge fund considers overseas move
Brevan Howard considers Switzerland as possible new home
One of London’s largest and most successful hedge funds is considering moving
to Switzerland because of uncertainty about the UK’s tax regime, writes the
Sunday
Telegraph.
Brevan Howard, which manages $22bn of hedge fund assets and employs 250
people, said this is due to the government’s tough line on non-doms.
The fund manager, run by prominent Conservative Party donor Alan Howard ,
has sounded out officials in several cantons in Switzerland with a view to
opening an office which could also serve as its new headquarters.
Five out of the fund’s eight founding partners are believed to be registered
as non-doms in Britain, all of whom have been upset by the Government’s attack
on the tax status.