Tue, Jul 14, 2020
A A A
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. PPP: Troubled firm Marto Capital asked for PPP money - and got approved, records show, Fallen hedge fund's head among money managers getting PPP relief, Wall Street investors scored emergency government loans amid pandemic, The asset managers approved for PPP money[more]

    Troubled firm Marto Capital asked for PPP money - and got approved, records show From Institutional Investor: Marto Capital - a former wunderkind founded by an ex-Bridgewater Associates star - got approved for emergency funds from the U.S. government, records showed Monday. Katina Stef

  2. PE/VC: Not all VC investors are being slowed down by the pandemic, GP-led secondaries to increase in post-Covid-19 resurgence, Some private-equity firms see early signs of a deal thaw, New York private equity goes for the jugular in Germany[more]

    Not all VC investors are being slowed down by the pandemic From Pitchbook: As the venture capital industry pumped the brakes on dealmaking, a handful of investors are taking a different tack. Among the top 20 most active US VC firms with assets under management of $500 million or more,

  3. Satori Capital buys into hedge fund manager Mountain Cove Capital Management[more]

    Laxman Pai, Opalesque Asia: Dallas-based alternatives manager founded on the principles of conscious capitalism, Satori Capital has agreed to back compatriot investment firm Mountain Cove Capital Management. Satori, a multi-strategy firm with more than $1 billion in assets under management, co

  4. SEC proposes to amend Form 13F[more]

    B. G., Opalesque Geneva: The Securities and Exchange Commission (SEC) said on Friday that it had proposed to amend Form 13F - for the first time in more than 40 years. The proposal will update the reporting threshold (currently at $100m) for institutional investment managers and make other change

  5. News Briefs: An amateur investor turned $15,000 into $1m then lost it all, the latest cautionary tale in the day-trading frenzy, SoftBank-Backed Beike Zhaofang Aims to Raise $3bn in U.S. IPO[more]

    An amateur investor turned $15,000 into $1m then lost it all, the latest cautionary tale in the day-trading frenzy From Business Insider: Robinhood-user Richard Dobatse said he turned $15,000 into $1 million, and then lost everything. He told the New York Times: "They make it so easy fo