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Bahamas, seventh most popular destination worldwide in terms of domiciled assets, vies to attract prime brokers, hedge funds
From the Nassau Guardian: The Bahamas has been a well-known player in the offshore banking arena for decades, but it is a neophyte in the management of hedge funds. At the Hedge Funds World conference, opened at the Atlantis resort in Nassau, Prime Minister Hubert Ingraham welcomed delegates and expressed some of his views on this relatively new market for The Bahamas.
"Today, I am advised that total assets in the hedge fund sector exceed $1.8 trillion dollars, with some estimates as high as $2.5 trillion. The offshore sector is the most important in terms of domicile, with almost 50 percent of these assets domiciled in the Caribbean. The Bahamas, is the seventh most popular destination worldwide in terms of assets domiciled, and we boast hedge funds managed here that is among the top 10 percent worldwide in terms of size despite lacking the physical presence of many of the top prime brokerage operations which we would like to attract, accommodate and welcome to our shores," said the PM.
Bahamas regulatory overview: Funds on fast track, SMART funds
Opalesque Note: I had the pleasure to chair the first day of that conference. A couple of hedge funds and wealth advisers I met were trading out of Nassau, benefiting from the many highlights the jurisdiction offers.
In 2003, the Bahamas enacted the Investment ...................... To view our full article Click here
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