📈 Cayman Islands hits record with 30,000 registered funds

The Cayman Islands has reached a new milestone, with over 30,000 registered investment funds for the first time. The Cayman Islands Monetary Authority (CIMA) reported that as of September 4, the total number of registered investment funds in the Cayman Islands was 30,038. This includes 17,080 private funds and 12,958 mutual funds. The achievement highlights the strength of the Cayman Islands' regulatory framework, which continues to inspire confidence from the international funds industry. 🌐

CIMA Managing Director Cindy Scotland stated that the Cayman Islands remains the preferred funds center for fund managers worldwide. This reflects the commitment to maintaining the highest standards of excellence and integrity. Current projections indicate that the total number of registered funds will continue to grow, surpassing the 2023 registrations. This growth is attributed to the steady increase of private funds since the introduction of the Private Funds Act in 2020. Last year, both private funds and mutual funds registered all-time high figures. 📊

Financial Services Minister André Ebanks will be traveling to the UK, EU, and US to maintain the Cayman Islands' position in the sector. The minister highlighted the collective success of reaching 30,000 registered funds and the continuous effort to create a global investment funds center of excellence. In his overseas trip, Ebanks will meet with government officials, attend a Cayman Finance roundtable, and speak at various forums and symposiums. The trip aims to promote the Cayman Islands and protect its reputation in the global finance sector. 🌍