CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. South Africa To License Hedge Funds Within A Year

South Africa To License Hedge Funds Within A Year

by Robert Lee, for LawAndTax-News.com, London

09 February 2005


Speaking at the Raging Bull Awards, co-hosted last week by the Personal Finance news service and the Association of Collective Investments, chairman of the South African Financial Services Board, Dr Cyrus Rustomjee revealed that the FSB plans to license hedge fund products within a year.

Although hedge funds are currently permitted to locate in South Africa, they are not regulated by the authorities, and are therefore not marketed to the country's investors.

However, under the guidelines formulated by the financial regulator following extensive consultation with the unit trust industry, such products will make their debut on the wider market in early 2006.

According to Personal Finance, which reported on the award ceremony, Dr Rustomjee urged the industry to move away from using the unregulated products as soon as the new regime is put in place.

A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »