The Cayman Islands continues to cement its place as a leading funds domicile globally, after reaching 30,000 funds registered for the first time.
According to the Cayman Islands Monetary Authority (CIMA), as of 15 August, the total number of registered investment funds in Cayman is 30,038 funds. Of that, there are 17,080 private funds and 12,958 mutual funds.
CIMA Managing Director Cindy Scotland noted that Cayman’s investment funds framework remains prominent among investors for a number of reasons.
“This accomplishment underscores the strength and resilience of our regulatory framework, which continues to inspire confidence from the international funds industry,” Scotland said.
“It is a clear indication that the Cayman Islands remains the funds centre of choice for fund managers worldwide, reflecting our commitment to maintaining the highest standards of excellence and integrity.”
Cayman Finance CEO Steve McIntosh indicated this milestone speaks to the enduring quality of the Cayman product.
“Cayman Finance congratulates the many individuals and organisations whose hard work made this milestone possible, from those on the front lines driving our industry forward, to the policy makers who created the rules of the road and the regulators that make sure the rules are followed,” McIntosh said.
Deputy Premier and Minister for Financial Services André Ebanks said in a press release: “Reaching 30,000 funds registered is certainly a collective country success for the Cayman Islands. It speaks to the vision and the work of successive government administrations; the Monetary Authority, with its respected track record that spans more than 25 years; and the contributions of industry members, from retired pioneers to the cutting-edge practitioners of today.”
He said, “It tangibly demonstrates how we in this country work tirelessly together to create a global investment funds centre of excellence, and how we continue to take it from strength to strength.”
The current projections indicate the 2024 year-end total will surpass 2023’s registrations, building on the steady growth of private funds since the introduction of the Private Funds Act in 2020. Last year saw 16,551 private funds, the previous high for registrations, along with 12,802 as the prior high for mutual funds registrations.
