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Alternative Market Briefing

Assets of Cayman hedge funds up but number of funds down

Tuesday, January 02, 2018

Komfie Manalo, Opalesque Asia:

The number of Cayman-registered hedge funds fell in 2016, according to data from the 2016 Investment Statistical Digest published by the Cayman Islands Monetary Authority (CIMA). However, the value of assets by the industry rose during the same year.

The report showed a 3.2% decline from the 2015 figures as the total number of hedge funds in the Cayman reached 10,586 with assets rising by $17bn in 2015 and $435bn in 2016, reported the Cayman Compass.

CIMA said in the report, "Investors shed risky assets amid continued global growth fears and falling commodity prices. However, this unease was offset by strong labor market data and an increase in interest rates which helped calm concerns about the United States economic recovery leading most assets to rebound from 2016. Improved financial performance is also due to the U.S. stock market growth, the prospect of large-scale deregulation, tax reform and the general pro-business stance of the new U.S. administration."

It added that the trend in the decline in hedge funds registering in the Cayman Islands began in 2013 when some 11,379 funds were licensed there. According to CIMA, the rise the value of assets under management is due to the strong performance of the hedge fund space and asset ap......................

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