In attendance
CAYMAN FUNDS | 2018 3
directors and service providers in ensuring that funds that are inactive
are wound up. CIMA thus views the current numbers as a more accurate
reflection of funds that are actively operating. CIMA’s tracking, quarter
on quarter, also shows the spikes in numbers around the middle of the
year and then the dip as you get the terminations in at the end.
Overall, compared to other jurisdictions, Cayman remains well ahead of
its competitors. We continue to see about 100 new funds a month, even
though the terminations that come, mainly towards the end of the year,
will tend to balance out the overall total. It is still a very robust industry.
The Hon. Tara Rivers: Based on those statistics, our legislative and
regulatory framework continues to create the environment for a
thriving funds industry. We consult with industry and CIMA in order
to achieve this.
Jude Scott: We also have a very strong positive feeling about the
jurisdiction. It ticks all the boxes for the alternative investment space.
The hedge fund side is levelling out at a very strong level, but where
we see money shifting out of hedge funds, we see it moving into the
private equity space where we’re probably equally strong, as well as
into real estate funds.
In some growth areas like Asia, the preferred vehicle is private equity.
The jurisdiction has a very strong offering in those spaces as well.
THE ANNUAL EY CAYMAN FUNDS ROUNDTABLE
Michelle Bahadur,
director, Cayman
Islands Government
Department of
Financial Services
Trinda Blackmore,
board member,
Cayman Islands
Directors Association
Chris Bodden,
director, The Harbour
Trust
Marco Calleja,
partner, EY
Mark Cook, fund
fiduciary, IMS
Colin MacKay,
chairman,
Alternative
Investment
Management
Association
Ingrid Pierce,
managing partner,
Walkers
The Hon. Tara
Rivers, JP, MLA,
Minister of Financial
Services
Jude Scott, chief
executive, Cayman
Finance
Heather Smith, head
of Investments and
Securities Division,
CIMA
Simon Thomas,
partner, Campbells
Monette Windsor,
managing director
of MUFG Investor
Services
Moderator:
Wyn Jenkins, editor,
Cayman Funds