All comment and opinions

Comment: Restriction on hedge fund managers’ pay will be unworkable

Comment: Restriction on hedge fund managers’ pay will be unworkable

Joe Seet (pictured), senior partner at Sigma Partnership, comments on the proposed restrictions on hedge fund managers’ pay in the latest draft of the EU’s Directive on Alternative Investment Fund Managers. »


Comment: Swedes send a message to alternative fund managers

Comment: Swedes send a message to alternative fund managers

Just when you thought that the guards had at last wrested control of the asylum back from the inmates, here comes another proposed feature of the European Union’s proposed Directive on Alternative Investment Fund Managers that takes one’s breath away. »


Comment: UK tax authority turns the spotlight on offshore management

Comment: UK tax authority turns the spotlight on offshore management

Michael Cant (pictured), partner at Nabarro LLP, outlines the implications of the recent tax residency case, Laerstate BV v HMRC. »


Comment: Why the recent rally in emerging markets could spell the beginnings of an investment grade bubble

Comment: Why the recent rally in emerging markets could spell the beginnings of an investment grade bubble

Argo Capital Management’s Shamillia Sivathambu (pictured) examines the implications of the formation of a credit bubble in the emerging markets. »


Comment: Much ado about nothing?

Comment: Much ado about nothing?

At first glance, it would be easy to say that the report by former UK regulator Michael Foot on the three British crown dependencies and six other overseas territories was a statement of the blindingly obvious. And possibly at second glance, too. »


Comment: Redrafted AIFM Directive is being watered down for good reason

Comment: Redrafted AIFM Directive is being watered down for good reason

Peter Mills, Managing Director of Kleinwort Benson (Channel Islands) Fund Services Limited, examines Sweden’s redraft of the EU’s proposed AIFM Directive. »


Wilson Ted St James Place

Comment: How to de-clutter your portfolio structures

Ted Wilson, Associate Partner with the UK-based wealth manager St. James’s Place, examines the role of investment bonds as a portfolio diversification and tax structuring tool for investors. »


Comment: Making a virtue out of necessity

Comment: Making a virtue out of necessity

Guernsey, Jersey and the Isle of Man have announced that they plan to work together to review their fiscal arrangements after it was made clear to the three crown dependencies by the UK government that their ‘zero-10’ corporate tax strategies are considered to breach the spirit, if not the letter, of the European Union’s Code of Conduct on Business Taxation. »


Comment: Are structured products suitable for the retail market?

Comment: Are structured products suitable for the retail market?

Investment firms NDF Administration and Defined Returns Limited, which marketed products backed by the ill-fated Lehman Brothers, were placed into administration last week. NDFA and DRL specialise in structured products for the retail market, with concerns being raised by the UK’s FSA about the adequacy of their marketing literature for investors. »


Comment: Plus ça change

Comment: Plus ça change

For years commentators have confidently been forecasting that the days of the two-and-twenty model of hedge fund fees were numbered. As the industry grew, they predicted, fee structures would increasingly vary between the best established and best performing managers, which could ask for – and get – two per cent of net assets annually plus 20 per cent or more of all profits, and the growing number of firms with shorter or less impressive track records, which would have to make concessions to investors to win their business. »


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