Wednesday June 24 2015

News Source: Fund Regulation

Focus: AIFMD

Type: General

Country: Australia




The Investment Manager Regime (IMR) was passed through the Australian Parliament. The Bill was introduced on 27 May, passed by the Senate on 17 June, and now awaits Royal Assent.

As a result of the new regime hedge funds in Australia are set to undergo a transformation:

  • hedge funds managed out of Australia will be more able to attract capital from international institutional investors as a result of these changes;
  • international fund management firms will find it easier to build a business case for establishing operations in Australia.

The above is implemented via Schedule 7 of the IMR which aims to increase the amount of non-resident investment business undertaken by Australian fund managers. In particular it intends to do this by exempting both the income generated and the capital gains realised by non-resident passive investment funds from the Australian tax system.

Click on the above link for further details.