Canadian authorities investigate $2bn investment fund

A nearly $2 billion investment fund listed in Ireland is being investigated by the Canada Revenue Authority.

A nearly $2 billion investment fund listed in Ireland is being investigated by the Canada Revenue Authority over fears that several wealthy Canadian families are using it to avoid paying income tax, The Sunday Business Post has learned.

Since 2008, the Canada Revenue Agency (CRA) has been attempting to force the investment management company behind the scheme, GAM Global, to reveal the identities of shareholders and investors.

Court documents also show that the ...