Life Insurance Loophole
The private placement life insurance loophole is a game changer for investors in hedge funds. If this loophole goes away, wouldn’t it really kill the appetite for L/S funds.? There would be a lot less institutional allocators or HNW individuals who would prefer giving money to Millennium and having to pay 37% taxes each year in the K-1 as opposed to a 60/40 passive portfolio where they can just defer taxes each year. I’m probably missing some key info, but if anyone has knowledge on this stuff can you please elaborate? Thank you!
If it's grandfathered in then less of a big deal
How would that be fair though. New funds shouldn’t get the same tax loophole benefits that much larger established funds get? Seems anti-competitive
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