Money – More hedge funds and private equity firms will set up in the city because of a government reform plan and the internationalisation of the yuan, industry representatives say.
Philip Tye, chairman of the Hong Kong branch of the Alternative Investment Management Association, a hedge-fund lobby group, said he expected more funds to domicile their products here because Financial Secretary John Tsang Chun-wah in February proposed to expand tax exemptions for private equity funds and to allow fund products to be structured more flexibly. Tsang made the proposal in his budget speech.
