Caymans seek hedge fund families in growth push
Tuesday, November 10, 2009 : PermalinkReuters – The Cayman Islands hope more hedge fund managers and their families will move to the off-shore centre as it seeks to boost tax revenues, the Caribbean territory’s prime minister told Reuters.
The British overseas territory — legal home to most of the world’s hedge funds, but with less than 50 managers actually based there — wants to attract more financial firms as it struggles with a budget deficit.
“It’s what I encourage, it’s a new drive. You bring your children,” premier McKeeva Bush said in an interview on Monday.
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