Anthony Travers OBE, Chairman of the Exchange said:
"Cross-border transactions of this type require a very find consideration of the cost benefits and impact of tax, accounting and regulatory requirements, but the benefits of the offshore jurisdiction can be eroded by delays and costs incurred by any form of regulatory mechanism which is not sympathetic to the product. There is no doubt the expertise that we provide in the listing department of the CSX and the speed at which it is brought to bear will have a significant bearing on selection of the most appropriate Exchange for this type of debt instrument."
His comments were backed up by Ann Nealon, Chief Executive of the The Cayman Islands Stock Exchange who said:
"The response from institutional debt arrangers, particularly in London, to the specialist Cayman Islands debt listing rules has been very favourable and there has been particular comment to the speed and high level of expertise shown by the CSX listing department."
Additionally the total of mutual funds listed has reached forty with the listing of the following mutual funds:
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- Eleven mutual funds, managed by a subsidiary of private Swiss bank holding company, Morval Vonwiller Holding, begin added.
- Willerfunds, a Luxembourg umbrella mutual fund with eleven separate sub funds managed by Willerfunds Management Company holding SA based in Geneva. These funds offer a wide range of diversified investment denominated in various currencies covering the most important equity and bond markets in the world.
- A new specialised venture capital fund for listing. The fund, to be managed out of New World, will invest in companies involved in high technology, biotechnology and other potentially high growth industries in Germany.
For further information on the above please contact Miranda Pugh