Alt Investments
Hedge Fund Flock to Cayman to Avoid US Regulation
An additional 665 hedge funds have registered with the Cayman Islands Monetary Authority in the first five months of the year, according to ...
An additional 665 hedge funds have registered with the Cayman Islands Monetary Authority in the first five months of the year, according to official figures. At the end of last year 7,106 hedge funds were registered on the islands, putting it ahead of other jurisdictions favoured by hedge funds such as the British Virgin Islands and Bermuda. In 2004 a record 1,405 funds were registered, but 2005 saw slightly lower figures. The attraction of an offshore domicile for hedge funds has, in part, been fuelled by the SEC's new rules for hedge fund registration in the US. Many US hedge fund managers now register their funds in Cayman, but with management given to US or UK firms.
