June 2008 issue:

issue11.pdf

In this free brochure:

• Hedge funds are not for the faint-hearted. Or are they?
• Hedge funds are not regulated. Or are they?
• Hedge funds are more volatile than more traditional investments. Or are they?
• Hedge funds are not accessible for small nvestors. Or are they?
• Hedge fund performances are not measurable. Or are they?

Guide to Hedge Funds

Some important informations:

UK Budget 2008 Summary

Our latest newsletter:

• Choosing an offshore bank
• Black Gold / Market view
• Soft Commodities
• etc.

Global News n°10, March 2008

Advanced Notice

New Deutsche Bank Note to be launched: 9.6% Net Per Annum Guaranteed for 5 Years.

A New Deutsche Bank Guaranteed Note will be launched this week. The known highlights of this note so far are:

• 5 year term note.
• This note will invest in 5 Blue chip companies namely Deutsche Telekom, France Telecom, Vodafone Group Plc, AT&T, Nokia… Initial capital is guaranteed provided these stocks don’t fall by more than 50%.

This Note is available for 4 weeks only, from launch date.

Full details of the note, together with a full explanation of how the Capital Protection will work, will be printed shortly.

From our partner Altexis, independent fiscal law firm registered at the Paris Bar:

The British government announced a reform of the definition of tax residency with respect of the principle of “Remittance Basis”. Currently, tax residents in Great Britain who are not domiciled or not ordinarily resident are not taxed on foreign source incomes when not remitted in Great Britain.

The proposed bill would restrict the scope of the Remittance Basis:

• A person not domiciled in Great Britain for more than 7 years would continue to benefit from “Remittance Basis” if paying a lump tax of £30.000. If not he would be taxed on his worldwide income even when not remitted in Great Britain.

This rule would apply as of April 6th, 2008.

For the computation of the 7 years of tax residency test, previous years of tax residency would be included.

Altexis last newsletter

UK non residents status

Launched on January 21st, 2008, Autopilot 2, the second in this series from RBS, offers investors exposure to a truly diversified, actively managed investment strategy. This investment follows the trends and price levels of four distinct market sectors, investing when markets are rising and diverting to cash when they fall.

Autopilot 2 provides exposure to a portfolio of diversified assets and markets within a single investment. By utilising a highly innovative, dynamic rule-based strategy to automatically allocate capital, Autopilot 2 avoids the regular trading and re-balancing costs associated with direct investment and sidesteps the potentially high management fees sometimes associated with investing in funds.

Benefit of such dynamic management is that Autopilot 2 can harness profit from upswings in each asset class, whilst aiming to protect the investor against downturns by diverting to cash when a falling market trend is identified.
In addition, underpinning the entire strategy is a commitment from The Royal Bank of Scotland plc (RBS) to repay 100% of capital deposited, provided the deposit is held for the full five-year term.

• Autopilot 2 has a five-year deposit term and is designed to be held until the deposit end date. Early cancellation of this deposit may result in an investor receiving back less than the sum originally deposited.

Please do not hesitate to contact us for any further advice or information

The IQS Performance Fund gained an estimated +8.22% in December to finish 2007 with an impressive +34.29% and follows returns of +33% in 2006 & +113% in 2005.

The IQS Fund’s +34.29% 2007 return is in line with its +34.10% pa compound annual average rate of return since inception in October 1995.

IQS Comments:

IQS Fund profits in December, mainly from Long Sugar, Gold & Oil and Short Copper positions, well outweighed losses on its Short Cotton & Coffee and Long US T-Bonds positions. We would like to thank investors their continued support during 2007, especially considering difficult market onditions. AMT Futures Limited has invested heavily over the last year in systems software, fund administration & marketing infrastructure and personnel. These have enhanced our ability to value, monitor & control risk of the IQS Fund and to improve our service to an ever increasing audience of investors. We will continue to invest and make improvements in all areas. IQS finished 2007 close to recent expectations. IQS thrives on price movement, but being a 100% computerised trend follower, losses can occur in sideways moving markets on low volatility. 2008 looks likely to offer strong commodity trading opportunities and we again expect IQS to perform strongly in the +50% to +100% range for the year. If you have not invested in IQS yet, it is time to do so now.

IQS Monthly report December 2007

IQS Monthly report February 2008

IQS Trading Strategy

HOW to subscribe:

• Minimum Subscription - USD 10,000 - via most Portfolio Bonds (Generali, Friends Provident, Royal Skandia, etc.)
• USD 10,000 - via Nominee Facility
• USD 50,000 - direct to Fund
• Sales Charge - None
• Management Fee - IQS & SAV 1% pa & CFL 0.3% pa
• IQS Performance fee - 25% pa on high water mark & paid monthly basis
• Liquidity - Monthly Dealing
• Subscription Notice & monies received - 2 business days before month-end
• Redemption Notice - 10 business days before month-end
• Redemption Fees - 5% of initial investment
• Custodian Bank - The Northern Trust Company
• Reporting Official NAV by monthly email/fax

To learn more and get in ahead of the crowd contact us today!

Residence has always been at the heart of expatriate tax planning. When a review of residence and domicile was announced in 2002, many were concerned that serious changes would follow. Now, the Chancellor has finally announced that the review is complete.

The main conclusion is the introduction of changes to the residence rules so that days of arrival at and departure from the UK will count toward establishing residence. This will have a huge impact on those living abroad-and means that, from April 2008, expatriates making frequent trips back to the UK will have to carefully plan to ensure their non-resident status is not jeopardized. More details are expected so it remains to be seen if any changes to the well-known 91-day-average rule will apply.

All levels and basis of, and relief from, taxation are subject to changes.

An additional months contribution for all new clients for Vision with a monthly premium of at least EUR500 or equivalent and a minimum premium paying term at outset of 10 years. This raises the total allocation to over 113% in year one on larger cases, a real client incentive to save.

• This offer is available with effect from 1st January 2008 up to and including 30th of June 2008.
• New clients for Vision with a premium of at least US$1000 or equivalent and a minimum premium paying term at outset of 10 years will get a second additional month of contribution when signed through EFA World.

Full details:

Generali Incentive 2008