Hedge Fund Tax Break Grips Hong Kong as Banks Fear Exodus

Hong Kong’s move to cut taxes for hedge funds has set off a frenzied wave of maneuvering across the city’s financial sector, with investment banks fearing an exodus of prop...

By Echo Wong, Eunice Xu, Bei Hu and Denise Wee · Bloomberg Markets

Hong Kong’s move to cut taxes for hedge funds has set off a frenzied wave of maneuvering across the city’s financial sector, with investment banks fearing an exodus of prop traders and one fund even considering rebranding a receptionist as an investor relations official to make the most of the potential windfall.