Fri, Sep 19, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

The regulation changes in South Africa could make hedge funds more broadly accessible

Monday, December 10, 2012

Bailey McCann, Opalesque New York:

In September of this year, the South African Financial Services Board (FSB) and the National Treasury, issued a new paper with proposed guidelines that would include hedge funds in the Collective Investment Schemes Control Act (CISCA) of 2002. If these guidelines move forward, they could have far reaching impact for the hedge fund industry in South Africa. The regulation and its potential were discussed by participants in our recent Opalesque South Africa Roundtable.

"The promulgation of such product level regulation for local hedge funds will definitely have a far-reaching impact on the local financial industry and hopefully make hedge funds more accessible to a broader market. This development should also further increase the confidence of institutional investors such as pension funds, as the proposed legislation will mean that they will be able to access these funds through a much more uniform regulated manner," explains Carla De Waal, Head of Funds of Hedge Funds, Novare Investments.

Like the UCITS structure in Europe, bringing hedge funds under the CISCA rules could provide investors with more clarity, understanding of structure and tax treatments. "One might even argue that such a regulated vehicle will reduce due diligence costs for institutional investors, as many features will be standardized or prescribed through prudential regul......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Institutions - North Carolina workers call on state pension to dump up to $6bn in hedge funds, UK pension fund criticizes hedge fund fees[more]

    North Carolina workers call on state pension to dump up to $6bn in hedge funds From Forbes.com: The State Employees Association of North Carolina this afternoon called on state Treasurer Janet Cowell to withdraw all investments in hedge funds, which appear to amount to approximately $6 b

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Institutions - Adviser's faith in hedge funds unshaken by CalPERS' move Advisers weigh in on CalPERS’ decision, Gina Raimondo sees no reason to follow California’s lead, exit hedge funds, Danish pension funds step up 'alternative investments'[more]

    Adviser's faith in hedge funds unshaken by CalPERS' move From WSJ.com: Financial advisers who use hedge funds in their clients' portfolios say they aren't rethinking that approach after a huge California pension fund announced plans to exit the hedge-fund market. The decision by the Cali