Tue, May 24, 2016
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. Paul Tudor’s hedge fund trims fee amidst poor performance, keep investors[more]

    Komfie Manalo, Opalesque Asia: Paul Tudor’s $11.6bn hedge fund firm Tudor Investment Corp. announced on Monday it would slash down fees of one of its biggest fund to 2.25% of assets and 25% of profits amidst backlash arising from poor performa

  2. West Virginia objects to Alpha Natural sale to hedge fund[more]

    From AP/Heraldcourier.com: West Virginia's environmental authority has filed an objection to the proposed $500 million sale of Alpha Natural Resources' assets to a hedge fund, arguing that the deal could leave the state holding hundreds of millions in reclamation liabilities. The Register-Hera

  3. Mitch Petrick leaves Carlyle as his hedge fund unit suffers losses while assets expand[more]

    Komfie Manalo, Opalesque Asia: Mitch Petrick will be leaving Carlyle Group as head of its hedge funds unit overseeing about $34bn as of March 31, after several funds under his management suffered losses while assets expanded, various media reported. Petrick joined Carlyle in 2010 and was a former

  4. Institutions - Kentucky pension leans into hedge funds amid governance turmoil, Korea's NPS names finalists for initial $1 billion hedge fund-of-funds allocation[more]

    Kentucky pension leans into hedge funds amid governance turmoil From AI-CIO.com: The Kentucky Retirement Systems moved to increase its hedge fund allocation as controversy reigned over fund leadership. Following a string of high-profile hedge fund exits, the Kentucky Retirement Systems (

  5. Fund Profile - The hedge fund that couldn't stay open long enough for a big payday[more]

    From Bloomberg.com: Toby Dodson waited six months for his bet against a fragile Portuguese bank to pay off. But before the reckoning, word came down from his hedge fund bosses at Achievement Asset Management in Chicago: get ready to clear out your desk and unwind your trades, we’re shutting down. Th