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Where Hedge Funds Stash Cash
In the first five months of this year, the Cayman Islands saw 665 hedge funds register for business, that according to the Islands' Monetary Authority.
A British Oveseas Territory, The Islands now domiciles 7,100 hedge funds, up 32% since 2003. The next two most popular destinations trail far behind: the British Virgin Islands harbors 2,370 funds while Bermuda hosts 1,200.
Hedge funds locate their offices in such places for two reasons: 1) to attract investors who would rather not pay the taxes levied in the country where they live or where they invest, and; 2) to minimize regulatory hassles and disclosures.
Based on hedge fund flocking, the Islands must offer among the strongest asurances of discretion and wealth preservation available anywhere. And the Territory's unspoiled tropical beaches don't hurt.
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