NEW YORK (Reuters) – Looking to strengthen data collection efforts in Cayman Islands’ burgeoning hedge fund industry, regulators are instituting new electronic reporting requirements aimed at better tracking the estimated $1.3 trillion (690 billion pound) industry, a senior Cayman official said.
The system requires Cayman-registered hedge funds to disclose 31 key data points, including assets managed, key personnel, strategies employed and significant corporate changes, said Gary Linford, head of Investment and Securities Division, Cayman Islands Monetary Authority (CIMA).
The move comes as Cayman-registered funds, which grew by 1,893 in the 12 months to June, now number more than 7,900 and could hit 8,000 by September. Most new funds started in the United States, Europe or elsewhere now establish an offshore entity along with their domestic fund, mainly to attract international investors.
