NES Financial has signed a contract to provide its fund administration suite for Gateway Opportunity Funds’ first fund, a St. Louis based Qualified Opportunity Fund that is making its first investment in the shovel-ready Lighthouse Landing on the banks of the Mississippi River in St. Louis.
Opportunity Fund investments offer investors temporary tax deferral, partial reduction of taxes on an investor’s realized capital gains and total elimination of taxes on all capital gains due to the appreciation of the OZ investment.
Gateway Opportunity Funds is now open and accepting investment.
The purpose of the NES Financial Opportunity Zone Fund Administration Suite is to efficiently and securely handle administration of growing funds, at scale, so
that Opportunity Zone Fund managers can focus on raising capital and deploying it to under served communities across the country.
“If properly implemented, the Opportunity Zones legislation has the potential to be the most transformative economic impact program in U.S. history,” said Reid Thomas, executive vice president at NES Financial, in a statement.
Originally Published on January 29, 2019 at 10:08PM
Article published originally via “opportunity zones” – Google News https://www.rejournals.com/articles/2019/01/28/nes-financial-making-an-impact-with-st-louis-oppo