Cayman registers more than 10 000 Hedge Funds
According to recent 2nd quarter figures from the Cayman Islands Monetary Authority (CIMA), the achievement of a key milestone by Cayman financial services industry have been confirmed as more than 10 000 investment funds currently registered in the Cayman Islands.
At the end of June 2008 10 037 funds were registered in the jurisdiction. This figure can be compared with 9 681 at the end of the previous quarter and 8 972 at the mid point of 2007.
The current annual growth rate of 12% in net new hedge funds is seen as striking in the context of the deterioration in world’s markets after the sub-prime meltdown and associated credit crunch.
Mark Lewis, senior investment funds partner at Walkers, said that the 10 000 barrier has been reached as hedge funds continue to be registered in Cayman that remains the jurisdiction of choice for investment managers and their advisers all over the world.