Wednesday, 1 October 2014
Last updated 19 min ago
May 20 2010 | 2:12pm ET
A pair of proposals that could have a big impact on the hedge fund and private equity industries have reappeared on the floor of the U.S. Congress.
A bill that would increase taxes on performance fee income was introduced in both houses on Capitol Hill today. The proposal would close the so-called “carried-interest” loophole, which taxes a manager’s share of a fund’s profit as capital gains, rather than ordinary income.
Capital gains are taxed at 15%, while ordinary income is taxed at a top rate of 35%.
The bill would allow some carried interest to continue to be taxed as capital gains. But at least 75% of the rest would have be treated as ordinary income.
Meanwhile, Sens. Jeff Merkley (D-Ore.) and Carl Levin (D-Mich.) have amended their amendment that would tighten up the proposed Volcker rule, which would bar banks from the hedge fund and private equity industries. Republicans earlier this week blocked a vote on the rule.
The change would allow the amendment to be added to the overall financial overhaul bill even after the Senate votes to limit debate on and changes to the matter.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...