Offshore Mutual Fund


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Offshore Mutual Fund

A mutual fund based outside the United States. Offshore mutual funds must comply with regulations in the countries in which they are registered, but need not comply with American regulations. Offshore mutual funds cannot be sold in the United States unless they comply with these regulations, but they may invest in U.S. securities.
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For example, should a certain offshore mutual fund invest in Apple stocks, it will be subject to 30% tax for stock dividend issued by Apple.
WAM currently manages The Fine Wine Fund, a membership scheme focusing on the joint investment in and ownership of fine wine, and The Fine Wine Investment Fund, an offshore mutual fund.
Private banking accounts can typically be opened in the name of an individual, a commercial business, a law firm, an investment adviser, a trust, a personal investment company, or an offshore mutual fund.
Additionally, the company has almost doubled the size of its European and offshore mutual fund coverage with approximately 20,000 new funds.
The new marketing center will be housed in BISYS' existing London facility, which has historically provided offshore mutual fund services, and will be managed and staffed by professionals with extensive private equity expertise.
The offshore Mutual Fund market is focused on Luxembourg.
Binder indicated that the new money came from the successful launch of a new offshore mutual fund and continued strong demand from European and other offshore investors.
Lopian, executive vice president and Head of The Bank of New York's Asia-Pacific Division, said, "We look forward to expanding our presence in Japan and to offering Japanese financial institutions world class customer service, sophisticated financial service products, and new services, including global collateral management, offshore mutual fund administration, alternative investments and hedge funds and interest rate derivatives.
where the company has been serving private and institutional clients in Germany for more than 35 years; PRICOA Property PLC, a European real estate investment and advisory business; PRICOA Capital Group, a London-based European private equity business; and the company's offshore mutual fund products.
She was chair of the boards of three families of funds and President of the Americas Mutual Funds Group at Scudder Investments, responsible for the four North American based retail businesses including three families of open and closed end mutual funds, the Americas offshore mutual funds group and the firm's defined contribution business.
taxpayers who invest in offshore mutual funds or certain other passive foreign investments without understanding the tax consequences may learn only years later that those investments are subject to the onerous tax rules for investments in passive foreign investment companies (PFICs).
Swiss bank Amas is planning to launch India-specific private equity and offshore mutual funds in January, Reuters has reported citing a senior official of the bank.

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