Wednesday, 6 May 2015
Last updated 20 hours ago
Aug 3 2010 | 3:47am ET
UCITS III-compliant hedge funds are all the rage these days. Now, it’s time to get ready for the sequel.
The government of Luxembourg—the world’s second-largest fund domicile—is set to adopt the fourth in the series of Undertakings for Collective Investment in Transferable Securities laws by the end of the year. The new version is set to take account of the proposed Alternative Investment Fund Managers Directive, which will impose new regulations on European hedge funds and private equity funds.
The new UCITS will go into effect some six months before the EU regulations, giving fund managers time to adapt, according to the Association of the Luxembourg Fund Industry.
“The Luxembourg authorities have take a very proactive approach to the introduction of UCITS IV, including introducing new tax measures to remove uncertainties on the fiscal treatment of new UCITS IV freedoms such as master-feeder structures and the management company passport.”
The latter provision is designed to allow fund managers based anywhere within the EU to run a UCITS-compliant fund from any other EU country.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…