Qualified Investor Schemes
These are a form of Authorised Investment Fund (AIF) which can only
be marketed to sophisticated investors. They have wider investment
powers than other forms of AIF.
Currently a less favourable tax regime applies to investors who hold more than 10% of a Qualified Investor Scheme (QIS). From 1 January 2009 all investors in QISs will be taxed in the same way as investors in other AIFs, such as unit trusts or open ended investment companies. This is subject to a condition that the scheme does not limit its investors to specific individuals or companies.
These changes offer an improved and simplified tax regime for these funds.