Solving More Than Just Tax
Sat Sep 1, 2001
Accountants help with regulatory approval, fund structure and, of course, tax, explains Carlyon Knight-Evans at Ernst & Young
When it comes to helping Asian managers launch their hedge
funds, the accountant plays a vital role. They help to guide
the start-up manager through the formative stages and offer
advice on a range of subjects. These include help in setting up
the management company and guiding it through the regulatory
authorisation process as well as determining the level of
regulatory capital required.
In addition, accountants - alongside the lawyers - advise on
the structure and nature of the management company, on the
structure of the fund and also, if appropriate, on the fund's
For the set-up and launch, it is important that the key
elements are co-ordinated. This is the critical stage and is
where experienced advisers can add a lot to the process. It is
important to get the arrangements right first time, as anything
that delays the fund's launch can have a significant impact
both on the profitability...
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