Cayman fund numbers slump in Hong Kong
The number of Cayman Islands funds authorised in the city has fallen 30% this year against a rise in HK-domiciled funds. Retail structured product volumes have also dropped heavily.
This year has seen a 30% drop in the number of Cayman Islands funds authorised in Hong Kong, as the city grows in popularity as a product domicile ahead of the pending HK-China mutual recognition scheme.
The number of Cayman-originated funds fell to 103 at end-September from 146 at the end of March, according to Hong Kong's Securities and Futures Commission (SFC). During the same period, the number of HK-originated funds rose 16.8% to 548 from 469. This continued trends evident si…
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