Last year was another bumper year for hedge fund registrations in the Cayman Islands. The jurisdiction’s regulator, the Cayman Islands Monetary Authority (CIMA), reported more than 1700 new hedge fund registrations, topping the previous year’s record 1405 registrations. Today, the authority regulates more than 7000 active hedge funds, estimated to be about 80% of hedge funds worldwide.
The industry took off with the enactment of the Mutual Funds Law in 1993. The islands are also home to 158 fund administrators, which provide director, trustee and general partner services; transfer fund shares; calculate net asset values; and ensure regulatory compliance.
