Island prepared to fight


The Isle of Man has set itself ambitious targets for capturing hedge fund business. Funds under administration (AUA) business in the island now stands at around $60 billion, up from just $9.8 billion in 2003. The industry's target is $150 billion of fund business by 2010, comprising $100 billion AUA and $50 billion assets under management (AUM). The Isle of Man has positioned itself as a jurisdiction of excellence for funds to be incorporated, domiciled and administered on the island. The isl