Number of funds falls; assets under management increase


While the total number of funds domiciled in the Cayman Islands decreased slightly between 2015 and 2016, net assets under management increased as a result of asset appreciation. In 2016, the Cayman Islands maintained its position as the most popular destination for net asset value (NAV) calculation services.

That is according to 10th edition of the Investments Statistical Digest, released by The Cayman Islands Monetary Authority (CIMA). The document captures information that is required to be filed by all regulated funds via the Funds Annual Return (FAR) through CIMA’s electronic reporting systems, up to financial year-end, December 2016.

The report also recorded information collected from investment funds, including a breakdown of investments by jurisdiction. This information continues to help improve CIMA’s supervisory and statistical framework.

In addition, the document shows comparison between the 2015 and 2016 collected data, which will allow readers to easily review the year-over-year statistics. Also highlighted was an 88 percent submission rate from all funds regulated in the Cayman Islands, while 2015 recorded a submission rate of 82 percent. Although the number of funds was marginally lower in 2016, reported figures in areas such as total assets, net asset value and total subscriptions were higher than in 2015.

Furthermore, the digest includes indicators of the financial sector’s performance during the same period, which illustrate that the Cayman Islands continues to be a leading jurisdiction within the funds industry.

Each year, the digest is based on annual returns filed by funds, majority of which are required to be filed within six months after the financial year-end. In some cases, a number of funds apply for an additional three-month extension, resulting in filings being received in September 2017. The information is then collated accordingly and included in the final report.

CIMA, Cayman Islands, Funds, Assets under management, Report

Cayman Funds