The dynamic landscape that is the Cayman funds sector with all its opportunities and challenges was debated by a panel of executives and politicians at the annual Cayman Funds roundtable hosted by EY. Regulatory changes, competition and the potential of cryptocurrencies were hot topics.
Colin MacKay of the Alternative Investment Management Association, Cayman, offers his perspective on the latest developments and performance of the alternative investment sector in Cayman.
Cryptocurrencies, blockchain and similar financial technologies hold enormous potential for the Cayman Islands, and it can take a leadership position in how they are regulated. Jude Scott, chief executive officer of Cayman Finance, explains how the newly launched Cayman Finance Innovation Lab is seeking to set the pace for the rest of the world.
Cindy Hislop, chair of the local HFC Cayman board and the Committee of Hearts, reports on the important work done by the hedge fund community in support of vulnerable children.
The quality and depth of experience among directors separates the Cayman Islands from other fund domiciles, and that’s what counts, says Ronan Guilfoyle of Calderwood.
Fund directors of investment funds domiciled in the Cayman Islands are mandated to oversee the risk management of the funds to which they are appointed. Isatou Smith and Masao Matsuda of Lainston outline the advantages.
A number of recent developments in the private equity market may serve to challenge the traditional notion that independent governance in the sector is not needed, says Simon Thomas of Campbells.
Cayman is well positioned to continue the support it has provided to the financial sector over four decades, says Colin MacKay, chairman of the Cayman Islands branch of the Alternative Investment Management Association.
As the funds business changes and adapts to global pressures, managers are seeking a more bespoke and global service from their auditor, Alex Bodden and Greg O’Driscoll of global advisory firm RSM tell Cayman Funds.
Funds may need to be closed down for a variety of reasons, not all of them bad. In any case, it is important to follow the correct procedure and get the right advice when winding down a hedge fund, as Jeffrey Short and Claire Loebell from EY tell Cayman Funds.