The document discusses the potential impacts of recent changes in U.S. tax law and position limits on the Access Fund and its Underlying Fund. It highlights the increased costs and reduced exposure due to new position limits and aggregation requirements, as well as the potential adverse effects on liquidity and execution pricing. The document also outlines the significant impacts of the 2017 Tax Legislation on taxation, investment returns, and the competitive landscape of the private funds sector.
doj/DataSet10/EFTA01391709.pdf
{"document_type":"financial","document_subtype":"investment fund analysis","key_organizations":["Ironsides Asset Management","Cleary Gottlieb Steen & Hamilton LLP","Maples and Calder"],"reference_numbers":["DB-SDNY-0096722","SDNY_GM_00242906","EFTA01391709"]}