AIMA Calls for AIFMD Passport for Cayman Islands

According to the Alternative Investment Fund Management Association ("AIMA"), the global hedge fund industry association, the Cayman Islands is confident that "the pan-European marketing 'passport' will be extended to alternative investment funds (AIFs) set up in the jurisdiction." AIMA stated that the passport should be granted "in the interests of institutional investors in Europe and hedge fund managers globally." "Cayman, where a high percentage of offshore hedge funds are registered, still awaits assessment by the European Securities and Markets Authority."

See: AIMA Press Release: "Cayman Islands Is Confident of Being Granted AIFMD Passport."Related news: AIMA/EY Survey Finds Mixed Progress towards AIFMD Transposition (July 24, 2013); ESMA: Key Concepts of the Alternative Investment Fund Managers Directive and Types of AIFM (March 8, 2012).