LONDON (HedgeWorld.com)–A delegation from the Isle of Man’s Treasury and its Fund Management Association arrived in London in mid June to make the case that fund managers ought to establish their funds on that island, between England and Ireland, rather than in the Cayman Islands or other traditional venues.
The delegation included Steven Beevers of the international services division of the Treasury. The FMA team was headed by that body’s chair, Liz Tansell. The ISD and FMA plan to continue their joint promotional/marketing activities.
In a statement June 24, Mr. Beevers acknowledged that the team was very well received at these presentations hosted by City law firms and prime brokers, although he also said he met with skepticism in some quarters.
He is confident that “strategic changes to the tax and regulatory environment for funds” underway at the Isle of Man mean that “we are now seen as offering a product which is every bit as good as our competitors.”