The Bahamas Financial Services Board has predicted that the fund industry in the Caribbean jurisdiction is set to expand substantially over the next few years.
The BFSB spoke to international fund management organisation, RMF Investment Group, which was founded in 1991, and now has offices in Nassau, New York, London, and Zurich.
The company predicted that the fund industry is set to develop over the next 3-5 years, citing 'the important role of globalisation and a tax status quite favourable to investors', and stressed the company's desire to maintain a role in the development of the sector.
'Growth has been sustantial,' Thomas Ledergerber, CEO of RMF's Bahamian branch, explained. 'We have nearly $8.7 billion currently under management, and a substantial part is managed out of our Nassau location.'
Mr Ledergerber concluded with resounding praise for the jurisdiction: 'The mutual fund industry here in the Bahamas is really set to expand in the future, and we are very happy with the high level of sophistication and experience that does exist here.'
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