Fri, Mar 6, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

South African proposed regulatory change hits hedge funds

Monday, July 08, 2013

Beverly Chandler, Opalesque London:

Writing in South Africa’s IOL, Bruce Cameron explains that more tax is likely for 'frequent’ switching of collective investments in South Africa.

"You will not be able to switch in and out of collective investment schemes – mainly unit trust funds and exchange traded funds (ETFs) – at will without considering the tax consequences if a proposal published in the Taxation Laws Amendment Bill is adopted" he writes.

The bill also:

  • Proposes a date on which the changes to tax deductions for retirement fund contributions will take effect;
  • Provides for the phasing out of provident funds; and
  • Provides for the removal of the tax deduction for premiums paid on income protection policies.
The IOL piece explains that according to a National Treasury document issued with the Taxation Laws Amendment Bill, which gives effect to the proposals announced in the Budget earlier this year, the "three-year rule" for determining tax will apply to collective investment schemes in the future.

The document also proposes that, from next year, hedge funds be brought within the ambit of the Collective Investment Schemes Control Act and be subject to the same tax regime as collective investment schemes.

"The "three-year rule"......................

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. SkyBridge opens office in Palm Beach County[more]

    Where better for a southern location than South Florida? SkyBridge Capital, which is headquartered in New York, has opened an office in Palm Beach Gardens. Palm Beach Gardens is a "Signature City" in northern Palm Beach County, with a population of around 49,000.

  2. Outlook - Philippe Jordan predicts 'alternative beta' to displace hedge funds, Stan Druckenmiller says Europe, Japan stocks will outpace U.S.[more]

    Philippe Jordan predicts 'alternative beta' to displace hedge funds From Investordaily.com.au: The disappointing performance of hedge funds in recent years is a result of "too much money chasing too little alpha", argues Capital Fund Management. Speaking to InvestorDaily, CFM partner Phi

  3. Investing - As rig count falls, hedge funds pile into long crude futures, Parus tactically shifts long/short exposure ratios, Mario Draghi outflanking Kuroda as bearish euro bets surge, Prime Capital’s 500.com bet derailed after 41% drop[more]

    As rig count falls, hedge funds pile into long crude futures From 247wallst.com: In the week ended February 27, the total number of rigs drilling for oil in the United States came in at 986, compared with 1,019 in the prior week and 1,430 a year ago. Including 281 other rigs mostly drill

  4. Outlook - 5 reasons why 2015 is looking like a breakout year for alternative investments, Hedge fund manager Dan Loeb predicts disappointment for funds seeking energy distress[more]

    5 reasons why 2015 is looking like a breakout year for alternative investments From Forbes.com: …After a strong 2014, the public markets have been off to a choppy start in 2015. This year, savvy investors may be looking for alpha elsewhere. For many institutions and high-net-worth indivi

  5. Event-driven strategies lead hedge fund gains in February while CTA rally shows signs of fatigue[more]

    Komfie Manalo, Opalesque Asia: Hedge funds ended February on a good note (+0.8%), confirming the positive momentum witnessed since the start of the year, reported Lyxor Asset Management in its Weekly Briefing. As of the end of February, the Lyxor He