CAYMAN 2012 - HFMWeek

More documents

Recommendations

Info

<strong>CAYMAN</strong> <strong>2012</strong> FUND SERVICES THE TIMELINE REQUIRED TO LAUNCH THE FUND IS IMPORTANT, AS THEY ARE OFTEN UNDER PRESSURE TO LAUNCH WITHIN A RELATIVELY SHORT PERIOD ” tions that may have been otherwise overlooked or may not be considered feasible later in the launch process. a large investment manager. For clients who we have an existing relationship with in another jurisdiction or who approach us directly, we would commonly be asked to introduce other service providers who we feel would be a good fit. The project manager/coordinator role is key to minimising the time period required to launch and keeping the costs of launching to a minimum, particularly where operations and service providers in two or more jurisdictions are involved. In the initial stages we work to get a clear understanding of the specific administrative needs of the investment manager and their seed investors so that we are able to help the fund meet its commitments while eliminating services that are not required and, consequently, keep our fee arrangement as low as possible. We also seek to structure our fees to minimise fixed fee components and defer initial fees to the extent possible. Finally, we invest the time necessary to thoroughly review the draft fund documents, focusing on the general operating matters that we can see are likely to arise once the fund launches, as well as the administration and reporting sections. Time spent on the first review of the documents will expedite the launch and minimise the ongoing operating costs. Insightful, practical advice early in the process is particularly valuable to an entrepreneurial manager and we may be able to suggest solu- HFM: What comments and feedback do you get from smaller investment managers regarding Cayman as a jurisdiction GM: We frequently get questions from investment managers who are considering launching in other jurisdictions. The managers and investors I speak with continue to view the Cayman Islands as the preferred offshore jurisdiction largely due to its tried and tested legal structure and the availability of best-in-class service providers. The Cayman Islands Monetary Authority has demonstrated it will continue to address the evolving expectations of investors and other interested parties locally and internationally in a well reasoned and consultative manner that gives the markets comfort that the Cayman Islands will continue to maintain its leadership position. In addition, the ongoing commitment by Cayman Finance to address the misinformation that circulates in the media appears to be helping our jurisdiction. The dominant leadership position that the Cayman Islands have developed, supported by a large selection of well recognised industry leading service providers, will allow the Cayman Islands to continue to thrive and grow despite the challenges that exist today and lie ahead. HFM: What do you see in the future for investment managers hoping to launch offshore funds GM: Although there will be many challenges over the next couple of years and beyond, we remain optimistic. The financial markets will continue to develop new products that will create challenges that we are not aware of today. The requirements and expectations of investors, regulators and other authorities will continue to rise and we all understand that will increase the cost of operating a fund. On the other hand, service providers will continue to invest heavily in technology and the resulting efficiency will mitigate the increased costs of the rising expectations and requirements. Furthermore, we are confident the markets and service providers will innovate and adapt to the changes that are implemented, such that it remains possible for an entrepreneurial investment manager to launch a fund and through insight and diligence, see that fund succeed and grow in a tax efficient internationally recognised jurisdiction for the benefit of its investors. n 54 HFMWEEK.COM
Why are the Cayman Islands home to more investment funds than any other jurisdiction No direct taxation. Responsive government regulators. Political and economic stability. A sophisticated legal system. Modern infrastructure and highly qualified professionals in legal, accounting, fund administration, and audit services. www.caymanfinance.ky
Page 1:
HFMWEEK S P E C I A L R E P O R T C
Page 4: CAYMAN 2012 CONTENTS 06 08 11 FINAN
Page 7 and 8: FINANCIAL SERVICES ologies used bet
Page 9: LEGAL board of directors, their ind
Page 12: CAYMAN 2012 FUND SERVICES FOR EMPLO
Page 15 and 16: LEGAL Buenos Aires bridge in Puerto
Page 17 and 18: CAYMAN 2012 ACCOUNTING EXPOSURE DRA
Page 19 and 20: CAYMAN 2012 LEGAL SOME TRIPS AND TR
Page 21: Deutsche Bank Global Transaction Ba
Page 24 and 25: CAYMAN 2012 FINANCIAL SERVICES SOME
Page 26 and 27: www.harneys.com Reliability. A comm
Page 28: CAYMAN 2012 CORPORATE GOVERNANCE to
Page 31 and 32: CAYMAN 2012 LEGAL FINDING THE BALAN
Page 33 and 34: CAYMAN 2012 FINANCIAL SERVICES MANA
Page 35 and 36: IMS FUND SERVICES Add an extra pair
Page 37 and 38: ADVISORY are unacceptable to them t
Page 39 and 40: CAYMAN 2012 ACCOUNTA NCY COMPLYING
Page 41 and 42: CAYMAN 2012 FINANCIAL SE RVICES CRI
Page 43 and 44: BDO is proud to announce that we wi
Page 45 and 46: CAYMAN 2012 FINANCIAL SERVICES WEAV
Page 47 and 48: We have expanded our horizons... ..
Page 49 and 50: CAYMAN 2012 LEGAL THE REGULATION OF
Page 51: For Audit, Tax and Advisory Service
Page 56 and 57: Cayman Islands You Us DIRECTORSHIPS
Page 58: CAYMAN 2012 TECHNOLOGY FIGURE 1: SH
show all

CAYMAN 2012 - HFMWeek

Create successful ePaper yourself

Delete template?

Save as template?