The forthcoming Finance Bill promises to increase the attraction of offshore funds to multi-manager ...
The forthcoming Finance Bill promises to increase the attraction of offshore funds to multi-manager investors. Proposals set out in the Government's pre-Budget report last year would make it easier for offshore funds to gain distributor status, putting them on an equal footing for tax purposes with UK-domiciled funds. Multi-managers can hold offshore funds that do not have distributor status at present, but their tax inefficiency makes them an unattractive proposition, said Toby Hogbin, head of product development at Credit Suisse. An on or offshore portfolio with distributor status pays...
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