Opinion

Steering clear of tax scandals

Word count: 734

The recent loss reported by Och-Ziff Capital Management Group, the largest publicly traded hedge fund in the US, was attributed to a $400m provision to settle bribery charges brought by the US Department of Justice related to the fund’s dealings in Africa. Paradoxically, while news like this has nothing to do with hedge funds in Africa, it reinforces the uncomfortable fact that skittishness from investors outside the region means that hedge funds in Africa are held to the highest standard.