CIMA To Publish Data On Cayman Hedge Funds

by Amanda Banks, Tax-News.com, London

20 May 2008

The Cayman Islands Monetary Authority (CIMA) has announced that it will soon launch its Investments Statistical Digest - the country's first-ever comprehensive compilation of data on the hedge-fund industry.

According to CIMA, the report will provide aggregate statistical information on the industry, underlining the fact that the Cayman Islands is the jurisdiction of choice for hedge-fund domiciliation and part of a world-wide network of hedge fund activity.

Fund structure, investment strategy, asset allocation and investment management are some of the topics that will be covered in the publication, which will be available electronically and in print.

Head of Investments of the Investments & Securities Division (ISD), Yolanda McCoy commented that, as it embarks upon this pioneering step, CIMA is confident that the Digest will prove "a critical source of information on the nature, scope and performance, not only of the hedge fund industry in Cayman, but also of the global market" and that it will promote greater transparency.

The report was prepared by an team comprising Mrs McCoy, Chief Analyst Amber Unick, and Analyst Colin Forster, supported by Chief Analyst Daniel Enebeli and Analysts Helen Koitla, Headian Barnes and Jonathan Bain.

The Digest is based on information submitted by CIMA-regulated funds having a 31st December 2006 financial year end. These formed the first group of funds submitting annual returns to CIMA via the Authority's electronic reporting (E-reporting) system introduced in March last year.

All funds regulated under Cayman's Mutual Funds Law are required to submit their annual returns to CIMA through the E-reporting system.

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