Hedge Funds

New firms help funds beat tax trap


Life insurance wrappers seemed under threat, but not any more

A new breed of company is expected to spring up over the coming years offering a legal way for managers to wrap up profits made from their funds in life insurance policies, and one of the first groups to offer the new service is likely to be launched by Tommy Taylor, formerly of Bass Brothers fame.

He and his 15-member team at The Taylor Companies are close to launching a new product, in collaboration with the insurance broker Marsh & McLennan, which will enable managers to create dedicated fund structures