|
A
distinction needs to be made
between the investment management
of hedge funds, their domicile and
where the administration is
performed.
As
regards investment management,
over 70% of the global assets are
managed in the US. Europe's
leading centre for hedge fund
management is the U.K. with
between 15% and 20% of the world's
hedge funds.
As regards domicile, nearly all
hedge funds are domiciled offshore
for regulatory and tax reasons.
Cayman Islands is the dominant
jurisdiction for hedge funds, with
currently around 35 new funds
being established there each week.
Other major offshore domiciles are
Bermuda, the British Virgin
Islands and Delaware.
As regards fund administration,
this too is generally done
offshore.
Ireland, Cayman Islands and the
Dutch Antilles are favoured
jurisdictions. |
