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Article: Investment Funds.(Cayman Islands is most important financial center in Caribbean)
- Article from:
- Mondaq Business Briefing
- Article date:
- March 14, 2003
CopyrightCOPYRIGHT 2003 Mondaq Ltd. 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 is undeniably the most important financial centre in the Caribbean and ranks amongst the largest and most important financial centres in the world."
Paul O'Neill (former) U.S. Treasury Secretary, November 2001
1. Overview
The Cayman Islands is the global leader for domiciling non-retail investment funds. It is estimated that the Cayman Islands has 55% of the total global share of offshore hedge funds. As of 23 January 2003 there were 4,187 investment funds registered with the Cayman Islands Monetary Authority ("CIMA"). This figure does not include the hundreds of additional closed end and debt only funds that do not require ...