Sun, May 1, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Brazilian market prefer Cayman Island-structured offshore funds

Friday, December 20, 2013

Komfie Manalo, Opalesque Asia:

The Brazilian market prefers offshore funds that are set up in the Cayman Islands because of tradition and marketing, said said Martin Litwak, founder of Litwak & Partners, an offshore law firm that specializes in Latin America, in the latest Opalesque Brazil Roundtable.

"Cayman law firms were the first in marketing their services in the country and to creating bonds with local lawyers and banks," Litwak said and added, "This has led to a preference with the first managers to set up offshore in Cayman over other jurisdictions. Managers who are launching tend to repeat what others have done in the past, which perpetuated that trend. That is why managers in Brazil prefer a Cayman to a BVI fund, which is a more flexible and cheaper jurisdiction. Funnily enough, if we take a look at the whole region, this preference appears only in Chile. All the rest of the countries prefer the British Virgin Islands."

He made the comments after Thalius Hecksher, global managing director of business development for Apex Fund Services, a worldwide provider of fund administration services, said that offshore funds were starting to become more popular within the Brazilian market.

Litwak added that another trend that he is seeing in the region is that fund managers in Latin America have started shifting from pla......................

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. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n