Thu, Apr 24, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Americans with money in pension fund are likely to have some in Cayman, so why all the fuss about Jack Lew’s investment?

Tuesday, February 19, 2013

From Komfie Manalo, Opalesque Asia - Why are people still surprised that Americans including both Republicans and Democrats have money invested in Cayman investment funds, asks Cayman Finance. Especially since when it is certainly the case that all Americans who have a pension fund will likely have their money indirectly invested in a Cayman private equity or hedge fund.

The Cayman industry association made the statement in reaction to the recent United States Senate Finance Committee confirmation hearing of Jack Lew, President Obama's nominee for Treasury Secretary, where he was asked about his investment in a Cayman Islands investment fund domiciled in Ugland House.

Cayman Finance said in the statement that, as the 2008 Government Accountability Office's Report stated, "Cayman is the domicile of choice and a center of excellence for some of the world's leading international investment funds."

The association reasoned that investment funds domiciled in the island are an important part of helping to solve the pension funds' need for investment diversification and the global allocation of capital. Some of this capital is, for example, invested in important infrastructure projects in emerging market countries. "As a consequenc......................

To view our full article Click here

Banner
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. …And Finally – Flight attendant has passengers rolling in aisle[more]

    From Orange.co.uk: A video of a US flight attendant turning her safety talk into a comedy routine is proving a huge hit online. More than five million people have watched the clip of Marty Cobb which has her passengers rolling with laughter on a Southwest Airlines flight to Salt Lake City.

  2. Niche Investing – Wealthy investors flock to fine art funds[more]

    From Clickorlando.com: Wealthy investors looking to diversify beyond stocks and bonds are now turning to an unusual money-making vehicle -- the art investment fund. The name says it all: These funds invest in fine art and seek returns by acquiring and selling high-end pieces for profit. Growth

  3. Opalesque Exclusive: Rainwater and Blue Sky - an Australian water fund emerges[more]

    Bailey McCann, Opalesque New York: Financial reporters often tout new funds and investments as uncorrelated investments, but few can say they are uncorrelated to everything but weather. Enter Blue Sky Alternative's water fund which invests in the permanent rights to Australia's water. Sev

  4. University of Michigan allocates $242m to six managers[more]

    From PIonline.com: University of Michigan, Ann Arbor, invested or committed a total of $242 million to one traditional equity manager and five alternative investment funds from its $9 billion endowment. University regents approved the hire of Mittleman Investment Management to run $35 million in act

  5. Performance – Odey flagship hedge fund suffers brutal March as shorts rise, Blackstone first-quarter profit rises 30% on higher fees[more]

    Odey flagship hedge fund suffers brutal March as shorts rise From Valuewalk.com: The tide has turned for the worse for one of Europe’s best performing hedge funds. Crispin Odey’s flagship hedge fund, Odey European has suffered a 4.63% decline for the year after slipping 7.2% in March, ac