How to Start and Grow a Hedge Fund in Asia [Paperback]Sponsored by: Credit Suisse; Deacons and Ernst & Youngby Carol Bonnett (Editor) and Eleanor Bramah (Editor) and Sarah Barham (Editor)
Note: This item will be dispatched directly from the publishers. Please contact us for a delivery date. Description of How to Start and Grow a Hedge Fund in AsiaThe third edition of How to Start and Grow a Hedge Fund in Asia is again sponsored by Credit Suisse,Deacons and Ernst & Young and brings together the latest information on market developments, as well as a country-by-country analysis of the regulatory frameworks governing the marketing of such funds.People who bought this book also boughtTitle Information
Write a review of this book Customer Reviews from AmazonContents of How to Start and Grow a Hedge Fund in Asia1: Hedge Funds in Asia - An OverviewPeter Douglas CAIA, Principal, GFIA pte Ltd, Singapore Overview Geographic and strategy trends Appetite for capital Characteristics specific to Asian strategies 2: Structuring a Hedge Fund in Asia Using Offshore Centres Rory Gallaher, Deacons, Hong Kong The Cayman Islands British Virgin Islands Available fund structures Limited liability company Unit trust Protected cell/segregated portfolio companies Limited liability partnerships Duties and responsibilities of the fund’s operators The management company Trustee/custodian The administrator Prime broker Performance fees 3: Key Considerations in Selling Hedge Funds to European Investors Stuart Martin, Dechert LLP, London Public promotion and UCITS Recent and current developments The United Kingdom Open-ended funds in the UK Promotion of hedge funds in the UK Marketing of hedge funds to UK-regulated funds New developments in the UK Austria Belgium Open-ended CIS Closed-ended CIS Denmark France Finland Germany Ireland Italy Luxembourg Selling non-European hedge funds to European investors Foreign hedge funds that are subject to the provisions of the Prospectus Law Foreign hedge funds that are not subject to the provisions of the Prospectus Law Norway New developments in Norway Portugal Spain Sweden Switzerland The Netherlands Conclusion 4: Key Considerations in Selling Hedge Funds to US Investors Adrienne M. Baker, Susan C. Ervin, John V. O’Hanlon and Karen L. Anderberg, Dechert LLP 1. The US: Securities and investment fund regulatory issues Securities law considerations Offering hedge funds privately to US investors Summary 2. Key US tax considerations for US investors in non-US hedge funds Non-US partnership Non-US corporation Mirror funds Master-feeder funds Summary 3. US regulatory issues for hedge funds engaging in derivatives Commodity pool regulation Key CPO registration exemptions The Rule 4.7 exemption Summary 5: Recent Developments in the Regulation of Foreign Hedge Fund Managers in Australia Scott Charaneka and Gregory Wong, Deacons, Australia Overview of Australian hedge fund industry Regulation of hedge funds in Australia What is the difference between a retail and wholesale investor? Licensing exemption for general advice given by product issuer Licensing exemption for foreign wholesale fund managers Recent taxation developments for hedge funds in Australia Alternative hedge fund structures Conclusion 6: Marketing Offshore Hedge Funds to Japanese Investors Yogo Kimura, Mori Hamada & Matsumoto, Tokyo JSDA Rules Contractual-type Corporate-type Disclosure requirements under the SE Law Public offerings Private placement to QIIs Private placement to a small number of persons (shouninzu shibo) Requirements Private placement of newly-issued securities to a small number of persons (49 or less) together with a private placement to 250 or less QIIs (kakudai shouninzu shibo) Secondary sale (uridashi) FSA filing required under the Investment Fund Law Registration with the FSA Registration of changes Addendum 7: The Regulation of Hedge Funds in Hong Kong Rory Gallaher, Deacons, Hong Kong Offer to 'the public' 8: The Regulation of Hedge Funds in Singapore Arnold Tan, Rajah & Tann LLP, Singapore Introduction Broad definition of a hedge fund in the Singapore regulatory context Securities and Futures Act Licensing of industry participants Fund managers Distributors/marketing agents Regulations relating to the marketing and offering of hedge funds in Singapore Definition of collective investment schemes The marketing of hedge funds on a private or restricted basis Marketing to the public in Singapore Singapore collective investment schemes Collective investment schemes outside Singapore The Code for Collective Investment Schemes Qualifications of the manager Minimum subscription requirement Disclosure requirements Listing of hedge funds in Singapore Listing on a tradable basis Listing on a non-tradable basis Recent developments 9: Marketing and Sale of Offshore Hedge Funds in Korea Joon Park, Young-Man Huh and Pil-Kook Lee, Kim & Chang, Seoul Introduction Regulatory regime Sales to only qualified investors Sales to non-qualified investors Eligibility of offshore hedge funds Recent developments 10: Marketing of Hedge Funds in Taiwan Sherry S. L. Lin, Lee and Li, Taipei Regulations and regulators Restrictions on marketing foreign funds in Taiwan Public offerings Private placements Registration/approval requirements for a marketing entity Public offerings Private placements Registration of numbers/types of investors in Taiwan Conclusion 11: Use of the Internet in Marketing and Distributing Hedge Funds in Hong Kong Karen Kaur, Deacons, Hong Kong Use of the Internet for authorised hedge funds Overview of regulatory regime SFC's regulatory approach Advertisements on the Internet Offering authorised hedge funds on-line in Hong Kong Electronic dealings Communication with investors via electronic means Use of the Internet for unauthorised hedge funds Overview The 'professional investor' exception The 'private placement' exception Use of the Internet for marketing unauthorised hedge funds in Hong Kong 12: Hedge Funds: An Accountant's Perspective Florence Chan, Victor Yung, Ang Siew Lian, Lim Gek Khim, Tobias Lintvelt and Antoinette Elias, Ernst & Young Introduction A. HONG KONG Factors to consider for the optimal structure of a hedge fund Hong Kong taxes to consider A typical hedge fund structure Taxation of hedge funds in Hong Kong Hong Kong established hedge funds Overseas established hedge funds Investors The manager The promoter B. SINGAPORE Income tax General Onshore funds Taxation of an LLP in general Taxation of unit trusts in general Designated Unit Trust (DUT) Scheme Offshore funds Tax Exemption Scheme for Asset Management Specified income and designated investments Tax exemption of approved Singapore resident funds Designated Unit Trust (DUT) Scheme Stamp duty Estate duty Future development C. JAPAN Corporate structures Purpose of the investment structure Separate functions: Investment-related and management of investments Various structuring alternatives Incorporated form: Tokutei mokuteki kaisha (TMK) Real estate investment trust (J-REIT) D. AUSTRALIA Regulatory restrictions on choice of vehicle Overview of Australian taxation system Ordinary income and deductions Capital gains and losses Accruals taxation Managed investment schemes (MIS) Taxation of a managed investment scheme Taxation of distributions Taxation of a company Sale of shares Other taxation issues 13: The Role of Independent Directors Geoff Ruddick, International Management Services Ltd, Cayman Islands Introduction Duties: What are a director's duties? Terminology: What do 'independent' and 'non-executive' mean? Role: What do you do? Value-added: What value will you add? Independence Regulators, exchanges and tax authorities Investor confidence Service provider confidence, monitoring and conflict resolution Approval of documentation and agreements Jurisdictional/corporate governance knowledge and experience So, where do you start? Now, what should you be asking? Conclusion |
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