Tue, Oct 17, 2017
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. Regulatory - David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge, Carried interest tax: How much does it matter?, Odey sees 'terrifying' mix in MiFID, tapering, asset values, Hedge funds come together to share cost of MiFID and research, SEC turns up the heat on U.S. investment advisers, India's Sebi asks hedge funds to report investments in commodity derivatives[more]

    David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge From CNBC.com: David Stockman is warning about the Trump administration's tax overhaul plan, Federal Reserve policy, saying they could play into a severe stock market sell-off. Stockman, the R

  2. North America - Puerto Rico rejects loan offers, accusing hedge funds of trying to profit off hurricanes[more]

    From TheIintercept.com: Puerto Rico has rejected a bondholder group's offer to issue the territory additional debt as a response to the devastation of Hurricane Maria. Officials with Puerto Rico's Fiscal Agency and Financial Advisory Authority said the offer was "not viable" and would harm the islan

  3. Investing - WPP targeted by short-selling American hedge fund, Sun co-founder sells secretive hedge fund on big chip trade[more]

    WPP targeted by short-selling American hedge fund From Cityam.com: An American hedge fund has mounted a bet against WPP, the world's largest advertising group, with a trade worth almost £90m. Lone Pine Capital has built a short position worth 0.51 per cent of the FTSE 100 company,

  4. Hedge funds up as industry adjusts to rising rates[more]

    Komfie Manalo, Opalesque Asia: Hedge funds have reshuffled their portfolio after nearly four weeks of rising rates as the Lyxor Hedge Fund Index was up +0.2% from 19 September to 26 (+1.1% YTD), fuelled by strong results of global macro funds, Lyxor Ass

  5. Manager Profile - How the world's hedge fund king used 'idea meritocracy' to become a billionaire[more]

    From Forbes.com: In 1982, Ray Dalio made what he calls the biggest mistake of his life. He made a bet that there would be an economic collapse stemming from a debt crisis. And he was wrong. He lost money. He lost his client's money. He had to let people go from his firm and borrow money from his dad