CAYMAN FUNDS | 2019
Overall, everything is on a very positive trend. There has been overall
stabilization in the industry generally and we see this as positive as
well. In addition to all this, overall gross assets were up 13 percent for
regulated funds in 2018, reaching $6.9 trillion.
Michelle Bahadur: These discussions around funds are very
important since they are such a significant aspect of our financial
services industry. As a government we see funds as strong
investment vehicles that are appropriately tax-neutral. We are
providing an environment in the Cayman Islands for funds to continue
to grow, and we are very open to feedback and improvements that
we can make.
Jude Scott: As a jurisdiction Cayman has positioned itself very well
over the years. When we look at our funds product it is very dominant
and strong product globally. Where some parties may have sought
cheaper jurisdictions in the past, we’re starting to see that they’re
also recognising the importance of a strong respectable domicile and
there is a flight to quality now.
They are looking at Cayman to set up new structures and new
products. We have the expertise on the ground, the relationships we
maintain, the quality of the service, the willingness of participants in
Cayman to travel, do thought leadership events, engage, and focus
on market-leading activities.
The statistics play out not only in terms of what has been happening
through the end of last year, but I think we’re going to continue to see
an acceleration and growth on that.
We have also been focused on creating more awareness in terms of
the amazing products that we have in Cayman and the clients and the
ability of the jurisdiction to support other countries with things such
as foreign direct investment.
THE ANNUAL EY CAYMAN FUNDS ROUNDTABLE
Michelle Bahadur,
director, Department
of Financial
Services Policy
and Legislation
IN ATTENDANCE
Mark Cook,
senior manager,
International
Management
Services
LaNishka
Farrington-
McSweeney,
partner, EY
Ronan Guilfoyle,
deputy chairman,
Alternative Investment
Management
Association (AIMA)
Cayman
Anne-Marie
Leadbetter,
director,
Harbour
Gwen McLaughlin,
director,
fund services,
Trident Trust
Victor Murray,
committee member,
Cayman Islands
Directors Association
Ingrid Pierce,
global managing
partner and head
of the Cayman
Investment Funds
Group, Walkers
Kendell Pierre,
executive director,
MUFG Alternative
Fund Services
(Cayman)
Andrea Proctor,
deputy director,
Department of
Financial Services
Policy and Legislation
Jonathan Roney,
director, fiduciary
services, Intertrust
Tim Rossiter,
incoming chair,
Cayman Islands
Fund Administrators
Association
Jude Scott, chief
executive, Cayman
Finance
Heather Smith, head
of the Investments and
Securities Division,
Cayman Islands
Monetary Authority
Giorgio Subiotto,
partner, Ogier
Moderator:
Wyn Jenkins, editor,
Cayman Funds