Money managers under the microscope
It would appear that where to live is the hot topic for hedge fund managers at the moment.
Star manager Crispin Odey of Odey Asset Management is “seriously considering leaving” the UK over higher taxes, the Sunday Times reported, while Krom River moved to Zug from London for lower tax and a better lifestyle, the Financial Times reported last year.
But there is traffic into London too.
Last month Hedge Hub reported that Auckland-based 36 South’s founder Jerry Haworth was moving to London to be closer to investors, who are now keen to do as much due diligence as possible in the wake of the Madoff fraud — but are not always able to fly to New Zealand.
Now Anthony Limbrick, chairman and CIO of New Zealand’s Pure Capital, tells me his firm will also be expanding its London operations and is likely to shift the balance of the company there eventually, although he will retain his New Zealand base.
City workers may dream of relocating out of London to somewhere a bit more laid back, particularly at rush hour, but one hedge fund manager is going the other way and is swapping the peace, quiet and good weather of New Zealand for the Big Smoke.
Jerry Haworth, founder of Auckland-based hedge fund firm 36 South, is moving to London’s West End in a bid to be closer to clients and to attract more assets.