Forbes – Hong Kong’s worsening air pollution is prompting a number of hedge funds to move to Singapore, reflecting a trend that could undermine the territory’s financialsector, the Financial Times reported on its website.
Citing senior executives at Morgan Stanley and Goldman Sachs, the world’s biggest providers of hedge fund broking services, it said health and lifestyle issues are causingrifts at the top of a growing number of Hong Kong-based funds.
‘There are hedge fund partnerships where there is an element of strife over air pollution,’ said one senior industry executive. ‘One partner wants to stay in Hong Kong, whilethe other partner wants to move to Singapore for the sake of his family.’
Big US hedge funds such as Stark Investments and Concordia Advisors are moving their Asian operations to Singapore, largely because of lifestyle factors, according toindustry insiders.
