The 128-page report says that 2002 saw the offshore market decline for the first time in five years; total offshore deposits and mutual funds stood at EUR3,612.7bn compared to EUR3,691.5bn a year earlier.

Investors' choice of offshore deposit destination, says the report, is related to proximity of those centers to the investor's home market. Europeans accounted for 84% of all deposits in Dublin IFSC and 72% of deposits in Isle of Man, US investors accounted for 62% of all deposits in the Bahamas and Asian investors accounted for 48% of all deposits in Hong Kong.

The report forecasts that offshore deposits will grow by 2.8% compounded annually in the period 2003-4. Dublin IFSC will grow fastest while the Bahamas, and NL Antilles will contract over the period. Offshore mutual funds will grow slightly faster, by 4.4% compounded annually. Bermuda and the BVI will be among the fastest growing centers while the Bahamas will lag behind.

The report:

• Details the sizes of offshore deposits and offshore funds from 1998-2002;
• Segments offshore deposits and offshore funds into retail v institutional assets in 2001;
• Quantifies source of deposits and of funds from France, Germany, Italy, Spain, UK, Nordic region, Benelux, US, Asia Pacific in each center in 2001;
• Forecasts offshore deposits and funds in each center for 2003 and 2004.

The report is priced at EUR 5,345 for electronic delivery, and ordering details can be found at http://www.researchandmarkets.com/reports/29334.