Hope for a better future

The Italian hedge fund industry, suffering from a fall in assets under management (AUM) of nearly 50% on average, is hoping an Italian government proposal for a tax amnesty (what it calls a 'tax shield') will encourage the repatriation of undeclared money held by Italians abroad. The government hopes this move will bring billions of euros back into the Italian economy while the country's alternative investment companies hope some of it finds its way into their funds.

The amnesty, the country's