| Hedge funds mull ditching UK for Switzerland, Asia |
| News - Financial News |
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--(www.FinancialNewsUSA.com)-- 11/28/2009 - Taxes industry news provided by Financial News USA. Luxury car dealerships, designer boutiques and high-end restaurants have thrived on money from the unregulated investment funds whose discreet offices sit behind the solid wooden doors of those neighborhoods' elegant Georgian buildings. But now some funds are considering swapping London for the less-regulated alpine air of Switzerland or the emerging markets of Asia as the European Union tightens oversight of high-flying hedge funds. Recent British tax hikes have also spurred funds to consider leaving the city that has long been Europe's undisputed financial capital. "The mood music has gone very bad here," said Julian Adams, chief executive of London-based Adelante Asset Management Ltd. "It's quite negative for business and for U.K. It takes Sgt. Charles Denault barely two minutes to spot a dozen cars with out-of-state license plates parked in driveways and outside houses and apartments. Driving his cruiser along this streets of coastal Kittery, Denault is on the lookout for vehicles registered in other states -- especially New Hampshire -- but owned by people who live in Maine. "They're everywhere," Denault said as he points out car after car with New Hampshire plates. "It's like dandelions that keep popping up." By professing to live in New Hampshire, Mainers can avoid paying a 5 percent sales tax when they buy a vehicle. They also don't have to buy car insurance, which is required in Maine but not in New Hampshire. And people who work in New Hampshire can also avoid paying Maine's income taxes if they claim a New Hampshire residence. About Financial News USA Financial News USA is a Next Generation Financial Communications firm focused on the distribution of market moving news. Financial News USA has developed leading edge e-publishing tools including programming proprietary RSS feeds and enabling open source press release publishing across its network. Financial News USA has been aggressively expanding its news distribution network by targeting direct feeds to financial news and data providers such as FinancialContent, Yahoo (NASDAQ: YHOO), among others. Financial News USA offers a free news feed available online (www.financialnewsusa.com) to websites and financial services looking for content and for individual investors looking to stay informed on the financial markets. Financial News USA and its affiliates charge each client cash for news distribution and may take an equity position in the companies mentioned herein, please visit the disclaimer at www.financialnewsusa.com. 
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