London Hedge Fund Exodus Continues As Tyrus Leaves City

The draw of hedge funds to sunnier climes and more favorable tax rates has continued today as Tyrus Capital Management has moved most of its staff and resources to Monaco. The company retains its headquarters in London but most of its operatives live in the Mediterranean principality where they can avail of much lower tax rates.

Several high profile funds have left London, and American cities, in favor of low tax European and Caribbean countries in recent years in order to avail of the benefits offered in those nations.

European Union regulations that are...