Thursday, 30 October 2014
Last updated 43 min ago
Jul 29 2010 | 12:34pm ET
Another major British hedge fund has set up a tax-friendly Alpine retreat. Moore Capital Management has recently opened an office in Zurich, Switzerland. One portfolio manager has already moved to the Swiss office, and others may follow.
Kornelius Klobucar has been moved from London to the new office, Financial News reports. But Klobucar, who has been with Moore for three years, is unlikely to be the last. The firm is expect to hire staff specifically for the Zurich office, or to move additional personnel there from London.
Moore, which manages US$14 billion and recently opened another office in Hong Kong, has registered a new subsidiary, Moore Cap Switzerland GmbH, in the country. The firm is just the latest London-based firm to open an office in Switzerland, which gives employees a way to escape new, higher taxes in the U.K. and potentially strict hedge fund regulations in the European Union, of which Switzerland is not a member.
Other firms opening Swiss centers include Brevan Howard Asset Management and BlueCrest Capital Management.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.