Recent statistics point to a steady
growth in overall assets managed
by Cayman-based funds and are a
clear demonstration of the Cayman
Islands’ continued prominent
position as an important global
financial services centre, according
to Cindy Scotland of the Cayman
Islands Monetary Authority.
The 2017 Cayman Islands Investments Statistical Digest
reported an increase in the total gross assets of regulated
funds by 13 percent, from $6.1 trillion in 2016 to $6.9 trillion
in 2017, and an increase in ending net assets of 12 percent,
from $3.6 trillion in 2016 to $4 trillion in 2017. This represents a steady
growth in overall assets managed by Cayman-based funds and a
clear demonstration of the Cayman Islands’ continued prominent
position as an important global financial services centre.
The confidence demonstrated by investment managers in the
jurisdiction’s regulatory regime, which remains the premier domicile of
choice for funds, confirms that Cayman’s mix of a comprehensive legal
and regulatory framework, which enables a systematic
supervision of its regulated industry sectors,
along with the availability of skilled and reputable
professional services providers, is successful.
The total number of funds regulated by the Cayman Islands
Monetary Authority (CIMA) at December 31, 2018 was 10,992,
compared to 10,559 for the same period 2017, an increase of 4 percent.
Noting that total fund numbers have been trending downwards in
previous years, this is a positive indication of a rebound in the funds
sector, attributed mainly to the continued popularity of the Cayman
fund structure and a sound regulatory regime.
Investors’ expectations are rising, as they continue to seek an
environment where transparency, sound governance and operational
efficiency are critical to their investment return objectives. Therefore,
despite the continuing challenges from the global trends relating
to a lack of startup capital and increased post-crisis regulatory
requirements, the outlook for Cayman’s fund sector is positive.
The number of mutual fund administrators (MFAs) regulated by
CIMA at December 31, 2018 was 89, down from 97 at the end of
2017, which reflects the continued impact of the global trend towards
12 CAYMAN FUNDS | 2019
ON THE UP