UK retail hedge funds are off to a slow start

tax & jurisdiction

Professional Adviser
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The UK's attempt to allow retail hedge fund access through the Qualified Investor Scheme (QIS) has f...

The UK's attempt to allow retail hedge fund access through the Qualified Investor Scheme (QIS) has failed to attract any attention, with the interest going instead to unregulated schemes. The main problems for QIS are the doubts concerning the tax treatment of such schemes (see 'UK to lose out to offshore rivals' story above). Dan Waters, director of retail policy and asset management sector leader for the FSA, said: "We have only been approached by one asset management group to set up a QIS so far." The major issue according to Waters is that the Inland Revenue has yet to define the tax ...

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