Global hedge fund and alternative investment industry association the Alternative Investment Management Association is launching a Cayman Is...

Global hedge fund and alternative investment industry association the Alternative Investment Management Association is launching a Cayman Islands Chapter at the request of the industry and with the strong backing of the Cayman Island regulator, the Cayman Islands Monetary Authority.

The Cayman Islands are a global leader in hedge fund domicile, with around 80 per cent of the world's hedge funds being registered there.

“This is a notable and natural milestone, and a signal of AIMA’s growing influence worldwide. Cayman is an integral part of the hedge fund industry, with the majority of hedge funds globally domiciled there," said Christopher Fawcett, Chairman of AIMA.

The new chapter becomes AIMA’s seventh after Australia, Canada, Hong Kong, Japan, Singapore and South Africa. The association now has over 1,000 corporate members in 46 countries.

Andy Stepaniuk of KPMG has been chosen as the chairman of the new chapter.