Mutual Funds
April 2012
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Investment Management Group Partner Bill Kouser Addresses Tax Implications of Converting Hedge Funds to Mutual Funds for “Money Management Executive”
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Mon 16thBill Kouser, a partner in BBD’s Investment Management Group, provided commentary in a recent article in “Money Management Executive” written by Tommy Fernandez on the challenges of converting a hedge fund to a mutual fund. In “When Hege Funds Try To Be Mutual Funds,” Kouser…
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Investment Management Group Partner Jim Kaiser Participates in Webinar on Current Valuation Issues Regarding Third-Party Pricing Vendors
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Wed 4thJim Kaiser, a partner in BBD’s Investment Management Group, recently recorded a Webinar with Kristin McCann, Compliance Officer for Gemini Fund Services, LLC, discussing the use of a third-party pricing vendor and why we all need to become more of a valuation expert. Jim and…
March 2012
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BBD Investment Management Group Partner Jim Kaiser Featured in “Ignites” Q&A: Are SOX Challenges Decreasing for Funds?
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Thu 29thAre SOX challenges decreasing for Funds? Jim Kaiser, a partner in BBD’s Investment Management Group, answers this question for the latest “Your Q&A” column in “Ignites.”
Despite the regulator’s focus on the Dodd-Frank Act’s new and pending regulations, I have not seen the SEC deemphasizing…
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Fund Restructuring- Part II
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Fri 16thIn a February 13, 2012 post, we introduced the topic of Fund Restructuring and noted a number of ways in which a mutual fund could restructure itself to better align with today’s marketplace. In this post, we will touch on some of the…
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The RIC Modernization Act of 2010 in Practice: Guidance on 2011 Excise Capital Gains Distribution Requirements
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Thu 1stUPDATE TO ORIGINAL POST: Contrary to prior rumors in the industry, the IRS did issue a revised Form 8613 before March 15, which is currently available on the IRS Web site.
The RIC Modernization Act of 2010 raised the excise capital gains distribution requirement from…
February 2012
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A Closer Look at RIC Diversification Testing
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Thu 16thIn a previous post, we took a look at the technical requirements of the asset diversification tests that a fund must pass in order to qualify as a regulated investment company (“RIC”) for federal income tax purposes. In this post, we will dive deeper into…
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Fund Restructuring- Part I
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Mon 13thThere has been much movement in the mutual fund industry recently in terms of fund restructuring.
As the economic crisis started in 2008, a sort of cleansing process in the market took place. A number of those funds that were not well-positioned from a portfolio…
January 2012
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FYE 2012- A Golden Window of Opportunity to Harvest… Gains?
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Thu 12thAs many portfolio managers are familiar with the concept of harvesting losses in an effort to be as tax efficient as possible, the idea of harvesting gains probably sounds strange. However, fiscal year 2012 may be a year where it is more tax efficient for…
November 2011
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Financial Statement Presentation of Regulated Investment Company’s Investment in Other Investment Companies
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Tue 8thThere are different scenarios in which an investment company invests in another investment company (registered or unregistered)— master-feeder fund structures; funds of funds; investment companies that happen to be invested in another fund but aren’t necessarily funds of funds. Within each of these scenarios, a…
October 2011
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Internal Revenue Code Diversification Requirements
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Tue 25thIn order to avail itself of the favorable tax treatment afforded to a “regulated investment company” or “RIC,” a fund must meet the following requirements:
The 50% Test
At the close of each quarter of the taxable year—at least 50% of the value of the…
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