Number of CIMA-registered open-ended funds grows by 7.7%

The number of open-ended funds registered with the Cayman Islands Monetary Authority increased by 7.68% in the first nine months of 2020.

This was partially the result of amendments to the Mutual Funds Law adopted earlier this year, which meant that limited investor funds must now register with the financial regulator.

At the end of the third quarter, 534 limited investor funds with 15 or fewer investors were under CIMA supervision.

Despite the COVID-19 pandemic and lockdown measures, mutual fund numbers have grown by 2.76% even if the newly registered limited investor funds are not taken into account.

The total number of CIMA-registered funds increased by 834 from 10,857 at the end of 2019 to 11,691 in the third quarter of this year.

The introduction of the Private Funds Law earlier this year has also brought closed-ended or private funds under the auspices of CIMA.

By the end of the third quarter, 12,343 such funds had registered with the regulator.

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