Industry News

There were a few surprises in the first Hedge Funds Review Service Providers Rankings. Overall, the response was good, with over 1,000 hedge funds, funds of hedge funds and investors responding to the survey.

Unsurprisingly the Cayman Islands was the most favoured domicile but perhaps more surprisingly, Luxembourg was ranked second followed by Ireland, both onshore European Union jurisdictions.

I go immediately to the heart of the matter: International Financial Centres (IFC) are indispensible components in the wheel-works of the global financial system. Principal amongst many advantages they produce and ensure is their efficient, comparatively inexpensive allocation of capital, which, in this epoch of economic decline and financial crisis, has maintained liquidity and value (particularly) in emerging markets, and so restored and maintained the confidence of investors in the world’s financial and economic systems.

Appleby, the world’s largest provider of offshore legal, fiduciary and administration services, has been shortlisted for four categories in the Citywealth Offshore Awards 2012, due to take place on the 25 January 2012 in London. The firm has been nominated in the ‘Caribbean Law Firm of the Year,’ ‘Caribbean Trust Company of the Year,’ ‘UK Offshore Law Firm of the Year’ and ‘UK Offshore Trust Company of the Year’ categories.

Cayman based Caledonian Global Financial Services has announced its intention to acquire the Beacon Group of Companies, based in both the British Virgin Islands and Cape Town, South Africa.

Consultants PwC have appointed Ian Bridges to be tax director in their Cayman offices.