Foreign Capital Flows Triggered Tax Revenue
A number of hedge funds is also planning to build the business in several cities in Asia, “says Dan McNicholas, Head of Asia Sales Financing Merrill Lynch in an interview with Bloomberg TV yesterday. Manager hedge funds interested in the regulatory climate in Hong Kong, the area that grow and provide potential investment opportunities after the U.S. and Europe planning to increase taxes in the financial industry.
London Mayor Boris Johnson said there are some 9,000 who will leave the London banker who became the financial center of England region to raise taxes due to the announcement of a bonus of 50% in the last month. “In this area, the business climate is very friendly to the manager compared with New York or London. In New York and London, you see the proposed tax increases and restrictions on other businesses that led to Hong Kong and Singapore to be interesting,” said McNicholas.
Asia is also expected to absorb more global hedge funds because of similar institutions needed a place to relocate his business. more than 15% of capital flow hedge funds ranging from U.S. $ 50 billion and U.S. $ 100 billion expected to go into Asia during the quarter I/2010.
Last week, the sources Bloomberg Soros Fund Management LLC and GLG Partners Inc. are two of several companies that are planning to open offices in Hong Kong. “Unlike 2006, when staff of junior researchers and brokers come to Asia, you can see more senior staff to make changes with a glance at the Asian market,” said McNicholas.
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