There is nothing wrong with this. Funds that draw money from international investors are often domiciled in no-tax jurisdictions to avoid double-taxing investors. If you're from a country with high capital gains tax, and already pay tax to your own government, haven't you paid enough? It's much easier, and fairer, to domicile the funds in no-tax jurisdictions and let countries tax the investors separately.

There is everything wrong with that. I earn a wage, I am taxed. I buy food, I am taxed. I make savings, I am taxed. I buy a house, I am taxed. I sell said house, I am taxed.

These folks with the offshores, not so much. If they feel they have been unduly taxed, they can argue their case just like everyone else.

Offshoring is just a way to concentrate and keep wealth at the top. Not to mention it's other nefarious uses due to lack regulation.