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Niaz Khan This article was authored by Niaz Khan, Associate Director of dms Management Ltd.:

Fundamental to my work as an Associate Director at dms Management Ltd. is travelling to major financial centres to meet with investment managers of hedge fund clients. On a recent trip to New York, I was especially looking forward to a visit with a well-known industry leader, a hedge fund manager with funds that had recently made the switch from Cayman to Ireland, and whose meeting had been arranged more than a month in advance. As I sat in the reception area in preparation for the meeting, the CFO rushed out of his office and indicated that they had to cancel due to an urgent unexpected matter with one of the hedge funds now domiciled in Ireland. An unfortunately familiar headache these days, he lamented. Here was an investment manager who made the move to Ireland, to what was perceived to be greener pastures - only to learn it was not quite what he had bargained for. I needed to find out why.

I had the opportunity to chat with him the following week, at which time he outlined why re-domiciling Cayman funds to Ireland is not always advantageous, and he was looking forward to returning to Cayman. I found his comments most interesting because the media is keen to report of the relatively few funds moving from Cayman to Ireland, but not yet on the radar is the round-trip ticket back.

The fight for a slice of the hedge fund pi......................

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