Booming Bermuda

The value of assets of hedge funds administered in Bermuda has grown from about $8.13bn in 1997 to more than $72bn in 2002. A Bermuda hedge fund can be set up as a limited liability company (LLP), a partnership or a unit trust.

A fund vehicle can usually be established in Bermuda within two to five working days. What the optimal structure for a fund is will depend on where the fund is to be marketed and the nature of the potential investor base. There are no Bermuda income, corporation, stamp dut