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ARTICLE · 10 SEPTEMBER 2019

Alternative Investment Funds 2019

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Although not Cayman Islands law, the broad scope and extra-territorial effect of the EU Directive on Alternative Investment Fund Managers ("AIFMD") will capture most types of Cayman Alternative

Cayman IslandsFinance and Banking
Grant Dixon
Grant Dixon
Andrew Keast
Andrew Keast
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1 Regulatory Framework

1.1 What legislation governs the establishment and operation of Alternative Investment Funds?

The Mutual Funds Law (2019 Revision) (the "MF Law") provides for the regulation of open-ended investment funds and mutual fund administrators.  Responsibility for regulation under the MF Law rests with the Cayman Islands Monetary Authority ("CIMA").

In addition, the Retail Mutual Funds (Japan) Regulations (2018 Revision) (the "Japan Regulations") provide a regulatory regime for retail mutual funds that are marketed to the public in Japan.

Although not Cayman Islands law, the broad scope and extra-territorial effect of the EU Directive on Alternative Investment Fund Managers ("AIFMD") will capture most types of Cayman Alternative Investment Funds, regardless of whether they are open-ended or closed-ended and regardless of their legal structure and investment strategy, with very few exceptions, to the extent that they are being marketed or

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