Since 1993 when the jurisdiction enacted its mutual funds law, it has reined supreme, capturing an estimated 70% of hedge fund registrations worldwide.
However, the financial crisis and international political attacks have both taken their toll on the island state. First the economic crisis hit Cayman hard. With around 45% of government revenues coming from the financial services industry, a global economic slowdown affecting this sector was a blow to the island’s development.
Coupled with that