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Article: 10,037 investment funds.(CAYMAN ISLANDS)(Brief article)
- Article from:
- Caribbean Update
- Article date:
- September 1, 2008
- Author:
CopyrightCOPYRIGHT 2008 Caribbean Update, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Cayman Islands Monetary Authority (CIMA) on July 2008 said that at the end of June 2008 there were 10,037 investment funds on its register, vs. 9,681 at the end of the previous quarter and 8,972 at the mid point of 2007. The current annual growth rate of 12% in net new hedge funds, which takes cancellations into account, is particularly striking in the context of the deterioration in global markets following the sub-prime meltdown and associated credit crunch, said Mark Lewis, senior investment funds partner at Walkers:
"Business remains active and the volatility which has impacted world markets as a result of the credit crisis, and the relatively weak ...