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Alternative Market Briefing

Caymans hedge fund service providers see more launches, seeding deals and a renewed interest in controlling costs

Friday, November 04, 2011

Benedicte Gravrand, Opalesque Geneva:

During the September Opalesque Cayman Roundtable, participants agreed that the current trend is showing more hedge fund launches in the last year, more managed accounts being created, more and bigger seeding deals. They are also seeing large hedge funds being more thorough in analysing their service providers; the latter are seeing a lot more RFPs (request for proposal) coming in and expect this trend to continue.

Cayman has seen an uptick of fund formation this year, more than last year, said Ingrid Pierce. Pierce is partner at Walkers, a global law firm, in their global investment fund group.

The first half of 2011 saw a total of 578 fund launches. These were the strongest six months since the first half of 2007, as total hedge fund industry capital reached a record level of $2.04tln. "The first half of 2011 was a strong environment for new hedge fund launches, with the industry on pace to approach the full year total of nearly 1,200 launches in 2007," said Ken Heinz, President of Hedge Fund Research in September. "While lower fees continue to be supportive of this growth trend, the evolution of fund transparency is also a significant factor driving new fund launches." ......................

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