Bahamas sees growth in innovative 'smart' hedge funds model

Smart option

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The Bahamas claims it offers a greater degree of flexibility and choice in terms of fund structuring than rival offshore jurisdictions like the Cayman Islands or the British Virgin Islands.

The Investment Funds Act (IFA) of 2003 governs the establishments and operation of hedge funds and related activities in the Bahamas. The IFA created four classes of investment funds: professional, smart (specific mandate alternative regulatory test), standard and recognised foreign.

The Bahamas has a dual lice