Cayman fund administrators see upturn in market and plan for growth

Despite losing work to lower-cost onshore locations, fund administration in the Cayman Islands continues to be an important business sector with some growth potential.

Despite problems and a massive loss of jobs over the past few years, Cayman’s fund administration business is not in terminal decline. However, there is no room for complacency and there is a need for some positive moves if the government is to reverse the trend.

Although it is true Cayman has lost a few hundred jobs to an exodus by fund administration services to lower-cost countries with abundant job pools, the industry itself has also changed. The financial crisis, in which hedge funds and