Recently, we were fortunate to participate on a webinar for the Alternative Investment Management Association (AIMA) discussing the hot topic of converting an existing private fund to a registered fund, versus launching an entirely new one. Below are a few of the critical variables the panel...
Read MoreJay Laurila recently participated in a Nasdaq-sponsored webinar that also featured ETF specialists from K&L Gates and Brown Brothers Harriman. The insightful and wide-ranging discussion explored best practices for navigating the nuances of conversions to ETFs from mutual funds, SMAs and private...
Read MoreTax equalization is one of the most tax-efficient strategies available to a regulated investment company (RIC). The strategy can reduce or even potentially eliminate a capital gain distribution requirement for your fund and your shareholders — yet not everyone uses it. While there are...
Read MoreOn January 10, 2024, the SEC approved the listing and trading of 11 spot bitcoin exchange-traded products. These products, known as spot bitcoin ETFs, began trading on January 11, 2024. Now that they are officially on the market, a natural — and important — question is, how will they be...
Read MoreAs the digital asset and registered fund spaces continue to intersect — with the first Bitcoin (BTC) regulated fund launching just over a year ago — there is much to sort through and many ongoing lessons to learn as to which products make sense for which types of investors. From crypto winters and...
Read MoreAs cryptocurrencies, such as Bitcoin and Ethereum, become more prevalent and developed as an asset class, the questions of if and how regulated investment companies (RICs) can gain exposure are becoming more common. In particular, there are a number of tax issues and complexities RICs and their...
Read MoreU.S. taxpayers who invest in debt instruments not denominated in U.S. dollars are often interested in hedging the currency exposure of these types of investments. This is commonly accomplished with an investment into a forward contract, futures contract, options contract or other instrument...
Read MoreOn July 31, 2020, the IRS and the Department of the Treasury issued proposed regulations under IRC Section 1061 for taxpayers that hold an applicable partnership interest (API) in connection with the performance of services. The rules, commonly known as the carried interest rules enacted as part of...
Read MoreThe Department of Treasury and the IRS have issued final regulations related to Regulated Investment Company (RIC) qualification testing for RICs invested in foreign corporations treated for U.S. federal income tax purposes as controlled foreign corporations (CFCs) or passive foreign investment...
Read MoreOn December 1, 2017, the Commodity Futures Trading Commission announced its agreement to allow CBOE Global Markets, Inc. and CME Group, Inc. to list bitcoin futures contracts on their exchanges. The futures contracts, the first to be listed on traditional U.S. regulated exchanges, are expected to...
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