Global business in Mauritius is active mainly in the area of investment in India, Africa and China. Mauritius is a leading provider of foreign direct investment in India due to favourable treatment under the double taxation agreement between the two countries. Since the signing of the agreement, many investment and hedge funds have been (and continue to be) incorporated in Mauritius for the specific purpose of investment in India. The benefits of including Mauritius in investment in the Indian market are unparalleled, whether by way of a collective investment scheme, a closed-end fund or other investment vehicle. Institutions, like individuals, are making more calculated decisions to maximize productivity and reduce risk and unqualified expenses. A more cautious period for hedge funds is thus envisaged, with international clients rethinking large-scale refinancing and extending timeframes for existing projects.   more »

According to separate amended Reg D filings with the U.S. Securities and Exchange Commission, two hedge funds managed by Bethesda-based Monsoon Capital have gathered $387.9 million total in pooled investment fund interests. Monsoon India Inflection Fund LP now has $163.1 million from 93 investors, while Monsoon India Inflection Fund 2 LP has $224.8 million from 167 investors.   more »

Hedge fund investors could be left out of pocket as managers conjure up shortcuts to earn once again the lucrative bonuses based on performance fees that were a feature of the industry before the credit crisis. Despite 20 percent returns last year, big losses in 2008 mean that between a half and two-thirds of hedge funds are below high-water marks -- performance levels they must hit before claiming a 20-percent fee on a fund's profits. This could persuade more managers to move to new firms where they can start earning these bumper fees straight away, forcing clients to decide whether the quality of the managers justifies the additional cost and disruption needed to follow them.   more »

Standard & Poor's, the world's leading index provider, announced today that it has licensed the National Stock Exchange of India (NSE), the largest stock exchange in India, to create and list Indian Rupee-denominated futures contracts on the S&P 500 (subject to regulatory approvals). The licensing agreement, jointly from S&P and S&P-licensee Chicago Mercantile Exchange to NSE, is part of a landmark cross-listing arrangement announced today by CME Group, the world's leading and most diverse derivatives marketplace, and NSE that covers benchmark indices for U.S. and Indian equities. The Rupee-denominated S&P 500 futures contracts will be made available on NSE via a sublicense from Standard & Poor's. Widely considered the single best gauge of the U.S. equity market since it launch in 1957, the S&P 500 is the world's most followed stock market index with nearly $1 trillion directly indexed and $3.51 trillion benchmarked to it.   more »