Hedge funds get breather in Washington tax ordeal

Efforts in the US Congress to change the tax treatment of hedge fund managers and private equity firms may have been halted last year, but they have not gone away. The latest salvo, which targeted the use by hedge fund managers of offshore centres to defer compensation, and thus its taxation, was narrowly blocked this week, but fresh initiatives may be in prospect once a new president and congress are elected in November.

Also interesting is the second article, about hedge fund transparency:

The report indicates that more hedge fund managers report to clients daily, weekly or monthly than managers in almost any other alternative investment category. For example, 85 per cent of hedge fund managers surveyed by PwC said they reported to investors at least monthly, compared with 43 per cent for private equity funds, 42 per cent for real estate funds, 36 per cent for infrastructure funds and 64 per cent for commodity funds.