Percentage of Cayman-based hedge fund launches declining

The percentage of hedge fund launches domiciled in the Cayman Islands has declined slightly in recent years, according to a report on key trends in hedge funds in 2015 by data provider Eurekahedge.

Cayman has seen its global share decrease from 26.7% for funds launched in 2010 to 25% for funds launched as of February 2016. In 2015, only 15% of new funds were domiciled in the Cayman Islands. Meanwhile, the United States has grown its share from 33.8% for funds launched in 2010 to 58.3% for funds launched as of February 2016. In 2015, nearly half of all new funds were domiciled in the US, reportsCayman Compass.

Separately, the Cayman Islands Department for International Tax Cooperation has said it will be taking a "soft approach" to enforcement of notification and reporting due dates under UK CDOT and US FATCA for 2016. The move is in recognition of the first year of implementation for UK FATCA and also that the AEOI Portal has recently been unavailable.http://www.opalesque.com/fullarticle/659414/Cayman_eases_into_FATCA_reporting941.htmlFull article by Bailey McCann here.

Read our latest Opalesque Cayman Roundtable report here. Artificial intelligence-focused hedge fund raises $1.5m

A hedge fund focused on artificial intelligence has raised $1.5m from a group of investors led by a founder of Renaissance Technologies, one of the world's biggest money managers, reported the Financial Times.

Numerai was founded by South African mathematician Richard Craib last year and uses a monthly "tournament" for data scientists to develop models using AI fields s......................

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This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.