Fri, Aug 23, 2019
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Funds industry grows in Cayman

Thursday, March 28, 2019

Bailey McCann, Opalesque New York:

Fund assets under management in Cayman are rising and delegates at the recent Opalesque Cayman Roundtable suggest that Brexit could be a positive for the local investment funds industry.

According to the recently released Investments Statistical Digest from CIMA, there was an increase of 12% in the Net Assets of Cayman funds, moving from $3.6 trillion in 2016 to $4 trillion in 2017. Total gross assets increased from $6.1 trillion to $6.9 trillion, representing an increase of 13%. For 2018, there was growth in the total number of funds, moving from 10,559 to 10,992, about a 4% increase. In terms of quarterly statistics, CIMA approved around 109 funds per month compared to 97 funds in 2017. Those numbers reflect renewed investor interest in private funds and according to Juliette Maynard, Deputy Head Investments Supervision Division, at the Cayman Islands Monetary Authority (CIMA).

Revenues are on the rise as well. Total return on gross assets increased from 2% in 2016 to 5.52% in 2017, and the return on net assets increased from 3.56% to 9.5%. Maynard says that the positive trends reflect the overall strength of the funds industry in Cayman and should calm fears around the potential impact of recent regulatory changes.

Much of the new activity is coming from managers in the US and Asia. Hong Kong is the top Asian location for investment managers with Cayman funds, according to the Investments Statistical Digest. Craig Smith ......................

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. Regulatory: Coming to America: US instigates major study into Mifid II[more]

    From IR Magazine: In the latest impact of Mifid II coming to America, a major investigation concentrating on research for small issuers has been successfully instigated by US politicians, on the back of the US coming closer to the European regulation. The US lower House of Congress, the House o

  2. Study: Quantitative investment strategies: Theory vs practice[more]

    From All About Alpha: When pitching an investment product with a backtested history the frequent response from potential investors is that they have never seen a bad backtest. Naturally this is true as there is no point in marketing a strategy with a poor backtest as investors have zero interest in

  3. 6 out of 10 investors seek to move assets from UK amid brewing of perfect storm[more]

    Opalesque Industry Update - Six out of 10 investors are now actively seeking to move assets out of Britain as a perfect storm looks set to hit the UK economy, reveals a new poll. The survey of more than 740 clients carried out by deVere Group, one of the world's largest independent financial

  4. Investing: Hedge funds take record short bets against Aston Martin, Investor sentiment reaching reversal point, says Lipper,It's time to buy into this long-suffering strategy, Investors, 'starved for returns,' flood private markets in search of high-growth opportunities[more]

    Hedge funds take record short bets against Aston Martin From FT: Hedge funds have taken record short positions in the debt and equity of Aston Martin, betting that the luxury carmaker will continue to struggle after one of the most disastrous stock market debuts of recent years.

  5. Crayhill Capital Management closes $100M transportation financing in Mexico[more]

    Bailey McCann, Opalesque New York: Private credit shop Crayhill Capital Management is providing a senior secured credit facility of up to $100 million to Mutuo Financiera, a vehicle fleet leasing company focused on clean energy passenger transportation in Mexico. Crayhill Capital Management is l