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London is still one of the most important places for internationally active hedge funds. But that could be changing. Many funds are moving, especially to Switzerland, where taxes are lower – and regulations looser.Analysts estimate that between 4,000 and 10,000 hedge fund managers are employed in the City of London. But because banking taxes are higher than ever, and managers are complaining about too much regulation, many are thinking of leaving London. What will happen to the city’s status as a financial center? Birgit Maass reports.