Bermuda Identifies Hedge Fund Sector As Future Growth Engine
by Phillip Morton, Investors-Offshore.com
30 December 2003

With the jurisdiction looking to take a larger bite of the burgeoning global hedge fund market, the Bermuda International Business Association has announced the staging of a new hedge fund conference, which will take place on the island from the 19th to the 21st of May 2004.

The event, to be hosted by industry publication ‘Hedge Fund Review’ is expected to attract around 250 participants, and will be sponsored by internationally recognisable finance houses such as Lehman Brothers and Citibank, with local firms also likely to feature.

“Bermuda already hosts the biggest hedge fund conference, MarHedge, every year, so it has an established reputation in this field,” commented Deborah Middleton, chief executive officer of BIBA, according to the Royal Gazette. She identified the sector as “clearly one of the growth areas in business for Bermuda.”

“One of our goals is to diversify the sectors – we have a lot invested in insurance,” observed the BIBA chief, continuing:

“Putting all your eggs in one basket is not a wise thing to do. Hedge funds are the greatest growth sector year over year and bringing conferences to Bermuda is a way of helping expand that sector.”

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