Tue, Jul 7, 2026
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

Australia Fund Monitor Index returns 0.7% (est.) in April (1.48% YTD) on the back of new 'Super Tax'

Tuesday, May 11, 2010

From Precy Dumlao, Opalesque Asia:

Partial results coming in from more than 200 absolute returns and hedge funds covered by the Australian Fund Monitor (AFM) Index showed an almost flat return of 0.7% in April (1.48% YTD), compared with ASX which returned -1.4% for the month.

In its "April Absolute Return and Hedge Fund Review" released last week, AFM said that Australia's hedge fund sector managed to post positive results even as the Greek debt and fiscal woes weighed down on the market in the final week of April.

Aside from that, many investors were wary of the new tax regime introduced by the Rudd administration. The most significant of which were the proposed "Resource Super Profits Tax" on the country's mining sector starting 2012, and the compulsory superannuation levy from 9% to 12% by 2020 - so that the nation's mineral resources may be redistributed to employees' retirement savings.

The fund management sector in Australia said this compulsory superannuation levy was in fact an "employment tax" paid for not by the government, but by employers. "The 'logic' of singling out specific sectors for penalty taxes on profits seems to display all the farsightedness of a politician in an election year without recognising the longer term message it sends to other industries (such as banking and wealth management) and to investors loo......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Other Voices: Nvidia extraordinary growth and the challenge of sustaining demanding valuations over time[more]

    Antonio Di Giacomo, Senior Market Analyst at XS.com, writes: Nvidia has established itself as one of the most extraordinary growth companies in the global technology sector. Over the past two fiscal years, its revenues have risen from levels close to $60 billion annually to well above $120 billi

  2. Secondaries take center stage: What the 2026 PE landscape means for GPs and investors[more]

    Matthias Knab, Opalesque for New Managers: The 2026 edition of Dechert's Global Private Equity Outlook - "Signs of a Gradual Thaw" - marks a notable shift in industry sentiment. After years of compr

  3. And, finally: Time to share it with the people[more]

    From Newsoftheweird: Leavenworth, Washington, has become a tourist destination because of the Bavarian theme businesses have adopted there, NPR reported. One shop, the Leavenworth Nutcracker Museum, houses the world's largest nutcracker collection, thanks to 101-year-old Arlene Wagner. Wagner sta

  4. Opalesque Exclusive: Private Markets Evergreen Funds - An Insider's View[more]

    Matthias Knab, Opalesque for New Managers: Private Markets Evergreen Funds: What Investors Need to Know Before They Dive In The democratization of private markets is well underway. Structural barriers t

  5. Opalesque Exclusive: Governance, Scale, and Boutique Resilience in a Consolidating Hedge Fund Industry[more]

    Matthias Knab, Opalesque for New Managers: The hedge fund industry has undergone significant consolidation in recent years, with capital increasingly concentrated among large multi-strategy platforms. Yet boutique m