South Soufriere Hills South Soufriere Hills South Soufriere Hills is a 35 ha patch of forest on the island of Montserrat, a British Overseas Territory in the Leeward Islands of the Caribbean Sea. It forms one of the territory’s Important Bird Areas (IBAs). The IBA comprises the largest remnant of Montserrat’s native forest in the Soufrière Hills, in the exclusion zone. It has survived the volcanic eruptions and pyroclastic flows that have devastated and depopulated the southern half of the island since the late 1990s. It lies only about 1.5 km south of 915 m Chances Peak, the highest point of the island
Long-Term Capital Management invested in other derivatives such as equity options. Under prevailing US tax laws, there was a different treatment of long-term capital gains, which were taxed at 20.0 percent, and income, which was taxed at 39.6 percent. The earnings for partners in a hedge fund was taxed at the higher rate applying to income, and LTCM applied its financial engineering expertise to legally transform income into capital gains. It did so by engaging in a transaction with UBS (Union Bank of Switzerland) that would defer foreign interest income for seven years, thereby being able to earn the more favourable capital gains