Wed, Apr 24, 2019
Welcome Guest
Free Trial RSS
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

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Institutional Investors: Here's how much public pensions are in the hole by per U.S. resident, Swedish pension giant awards $1.5bn PE mandate, CalSTRS on lookout for private equity investment consultants, Baltimore Fire & Police commits to LaSalle value-added real estate fund, US, European institutional investors plan to pile into China's capital markets, survey finds[more]

    Here's how much public pensions are in the hole by per U.S. resident From Value Walk: A lthough some government agencies have demonstrated a desire to deal with the pension crisis, the problem of unfunded liabilities continues to get worse year after year. A new report pegs U.S. public pe

  2. YieldStreet acquires Carlyle-backed Athena for $170m to add art financing to its alternative investment platform[more]

    Laxman Pai, Opalesque Asia: Yieldstreet, a closely held digital wealth management platform, acquires Athena Art Finance from Carlyle Group and co-investors in a deal valued at $170m. With this acquisition, YieldStreet, which raised $62m in February to further open to a wider base of investors

  3. Europe: KKR strikes hedge fund gold with British billionaire pair, Net outflows continue at Swiss asset manager GAM, Swiss fintech launches hedge fund platform, Cash-flush buyout firms target Europe in take-private scramble[more]

    KKR strikes hedge fund gold with British billionaire pair From Bloomberg: A pair of 200-year-old wooden elephants adorn the London lobby of one of the financial world's biggest beasts. The carvings guard the Chelsea office of fast-growing $39 billion hedge fund Marshall Wace. Co-foun

  4. News Briefs: DE Shaw to revert to '3 and 30' model as cost pressures bite, Lyft's IPO disaster is good news for tech IPOs, Jones Zafari group: The 'virtual family office' comes of age, The rise of 'super carry' unsettles private equity investors[more]

    DE Shaw to revert to '3 and 30' model as cost pressures bite From FT: DE Shaw is ratcheting up the cost of its flagship $14bn hedge fund despite falling fees across the asset management industry, highlighting the still-ravenous demand enjoyed by top quantitative investment groups.

  5. Performance: BlueMountain was one of the biggest losers of the first quarter[more]

    From Institutional Investor: BlueMountain Capital Management - the hedge fund firm fighting a proxy battle over the future of bankrupt California power company PG&E - has another problem.Its main fund, BlueMountain Credit Alternatives, is down 4 percent for the year through April 5, according to HSB