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This article was authored by Rolf Majcen, Managing Director FTC Capital GmbH, Vienna, Austria, www.ftc.at.
Without a doubt, Cayman Islands has become the world’s most important hedge fund domicile but also several European jurisdictions, in particular Gibraltar, provide the services, infrastructure and operational flexibility which the international investor demands, within the framework of clear and carefully enforced legal guidelines, that are in tune with the requirements of the modern hedge funds industry.
Whilst the “registered investment fund” (Section 4 (3) of the Mutual Funds Law) is the most common structure that is used for setting up an alternative investment fund in the Cayman Islands, the “Experienced Investor Fund” (EIF) is Gibraltar’s premier vehicle for alternative investment strategies.
You might be surprised to learn that the differences between the fund structures of both jurisdictions are minimal, but that is in fact, the case! Let us cast a glance at the similarities:
• There are no regulatory restrictions on investment policies or strategies or commercial terms for EIFs and Cayman registered funds.
• There are no promoter approval requirements, which is helpful to small and start-up managers who do not have a track record. The management of both can be done by the directors of the fund themselves
• There is no regulatory restriction on the choice of external fund managers.
• A trustworthy and reliable legal reg...................... To view our full article Click here
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