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Walkers endorses Cayman hedge funds Statistics Digest

Posted: 16 June 2008

International law firm, Walkers has endorsed the Cayman Islands Monetary Authority (CIMA) first report gathering data on the servicing of hedge funds.

The Investment Statistics Digest, released earlier this week, provides an in-depth statistical review of Cayman Islands regulated funds for 2006 with aggregate statistics for 5,052 funds including their financial position, structure, investment strategies, subscription activity, fund administration, and investment management services.

"With total regulated funds passing the 9,500 mark in early 2008, CIMA's publication of the Investment Statistics Digest for each calendar year will provide industry stakeholders and international regulators with the most comprehensive assessment of the offshore hedge funds industry," said Mark Lewis, Senior Investment Funds Partner at Walkers and a member of CIMA's E-Reporting Working Group.

"Cayman is already the clear jurisdiction of choice for the institutional hedge fund market. The successful introduction of E-Reporting and the meaningful flow of industry-relevant information will continue to set Cayman apart and will certainly continue to enhance Cayman's well-deserved reputation."

The report is based on information that CIMA has routinely required funds to submit as part of the regulator's ongoing oversight of the industry. However until the E-Reporting platform for funds was implemented in March 2007, CIMA did not have the ability to aggregate the data and report these statistics.

Some of the statistics that the digest revealed:

• The aggregate net asset value of the Cayman funds captured was $1.387 trillion
• New York had the largest concentration of net assets held by investment managers with US$388 billion or 28%
• The UK, predominantly London, had the second largest concentration of net assets managed with a total of $250 billion, or 18%
• The Cayman Islands was the primary location for the provision of administration services to the funds
• 61% percent of the funds reporting had a minimum subscription of $500,000

To read the entire Investment Statistics Digest visit http://www.cimoney.com.ky/uploadedFiles/Publications/Investments_Statistical_Digest/2006STATISTICALDIGESTFINAL.pdf

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