ARTICLE · 29 JUNE 2012

Cayman Islands Master Funds - New Registration Requirements

Travers Thorp Alberga

On 22 December 2011, the Cayman Islands introduced legislation to widen the range of master funds that are required to register with the Cayman Islands Monetary Authority ("CIMA").

Cayman IslandsWealth Management

Michael Alberga

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Executive summary

On 22 December 2011, the Cayman Islands introduced legislation to widen the range of master funds that are required to register with the Cayman Islands Monetary Authority ("CIMA"). The affected funds that are now required to register are open-ended funds which have a CIMA regulated fund as an investor, where the regulated fund conducts 51% or more of its investing through another fund.

The new legislation does not impact closed-ended funds or funds for a single investor.

Timeline

The amendments to the Cayman Islands Mutual Funds Law came into force on 22 December 2011. Any new affected fund will need to comply with the amended law immediately. Existing funds will have a 90 day grace period (which is subject to possible extension by government regulation).

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Cayman Islands Master Funds - New Registration Requirements

Executive summary

Timeline

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