September 15, 2006

Cayman Island Now Have 8,000 Hedge Funds

The Cayman Island Monetary Authority revealed that it has now 8,000 registered hedge funds. It can be recalled that in the beginning of 2005, it had 6,000 hedge funds. More than 1,000 new hedge funds were authorized in the first half of 2006 alone. This is a record for any six-month reporting period in the Cayman Islands.

This surge in hedge funds has been attributed to several factors including non-traditional applications of hedge funds and increased interest in emerging markets. Hedge fund managers are now finding new ways to apply their skills and strategies. However, the recent US Pension Protection Act 2006 may reduce the number of investment funds that need to operate in compliance with ERISA regulations.

My previous post titled "Pension Fund Paid Millions" will shed light on the pension fund related issues.

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