Hong Kong tipped to approve hedge fund tax breaks, attracting investment, talent

Hong Kong’s determination to boost its role as a global wealth management hub has raised market expectation that the city will approve a bill offering tax relief to hedge funds within this year. Speaking at a media briefing on Tuesday, Sandy Fung, KPMG China’s partner of tax and alternative investments, said the bill would be passed “soon” by the Legislative Council (LegCo), the city’s lawmaking body. “The bill could attract lots of funds and related talent to settle in Hong Kong, further...