Fri, Oct 31, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

AIFMD will not materially impact on Cayman Islands says Govier

Wednesday, October 26, 2011

amb
Paul Govier
By Beverly Chandler, Opalesque London:

Although law firm Maples has always been principally linked with the Cayman Islands, the firm also practices Irish and British Virgin Islands law and has a substantial office in London which it opened in 1997. Paul Govier, joint managing partner, London for Maples and Calder reports that it is the largest London office of any offshore firm, providing advice on Cayman Islands and BVI law on the ground in London.

Regulatory changes come and go but Cayman hangs onto its place as one of the most popular jurisdictions for hedge fund registration. Last year eight out of 10 of the top 10 fund launches were registered in the Cayman Islands and approximately 80% of European alternative funds use the Caymans for their fund vehicles.

Govier says: "The reasons that they choose Cayman now are the same reasons that they always have. Its a combination of a tried and tested product that works for managers, investors and prime brokers. They all understand how Cayman works and equally Cayman has designed its laws to work for these people. It is also partly inertia - its a herd mentality but for good reasons. You don't want to be distinguishing your fund vehicle on jurisdiction".

Govier believes that if you were looking to create an offshore jurisdiction, your wish list of features are all present in Cayman. "Political stability; English speaking; English law as the basis; tax neutrality; international best practice on anti m......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Macks aim to raise $750m for real estate debt fund[more]

    From Therealdeal.com: Father-son duo William and Richard Mack and former Blackstone Group managing director Peter Sotoloff are starting a new real estate debt fund. Together, the trio hopes to raise more than $750 million for the private equity fund, according to the Wall Street Journal. The fund wi

  2. Manager Profile - Seth Klarman: Lessons for retail and institutional investors[more]

    From Valuewalk.com: Seth Klarman is virtually unknown outside value circles, despite his impressive record and value of assets under management. On average Baupost has returned 19% p.a. despite holding a large portion of its assets in cash. During the financial crisis, Seth Klarman’s funds lost some

  3. North America - FATCA leads 75% of U.S. expats to consider dropping citizenship[more]

    From International-adviser.com: Nearly three quarters of American expats are considering the renouncement of their citizenship following July’s introduction of the “absurd” Foreign Account Tax Compliance Act (FATCA). The findings, which were revealed in a survey by deVere, come alongside the news th

  4. Goldman in talks to acquire IndexIQ[more]

    From Bloomberg.com: Can Goldman Sachs put ETF investors on a liquid diet? Goldman is in talks to acquire IndexIQ, Reuters has reported. Index IQ is a small exchange-traded-fund firm known mostly for products that replicate hedge fund strategies, called "liquid alternative" ETFs. While IndexIQ has 11

  5. Other Voices: CALPERS dilemma should be a warning to hedge funds wanting institutional investors[more]

    From Ian Hamilton, founder of IDS Group. A quick comment on the CALPERS’ disinvestment from the hedge fund market and the jitters it is causing. Pension Funds should not be sheep and follow CALPERS’ decision as the issues that CALPERS has with hedge fund investments are in many ways unique t