Fri, Mar 29, 2024
A A A
Welcome Guest
Free Trial RSS pod
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

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1