White Papers

Laven Says How To Be Excellent In Running Offshore Funds In Caribbean

Tom Burroughes Group Editor London 21 September 2012

Laven Says How To Be Excellent In Running Offshore Funds In Caribbean

Laven Financial Services, an offshore consultancy for fund managers and funds in the Caribbean, has launched a white paper series on how to run offshore firms.

The reports are designed, the firm says, to provide best practice guidance to fund managers with offshore business structures. Laven Partners is part of Laven group, the consultancy.

Despite pressures that have been brought to bear on offshore financial centres in recent years, such jurisdictions still wield considerable economic firepower. According to Laven, the Cayman Islands and the British Virgin Islands have a total of more than 13,000 mutual funds between the two jurisdictions and over 2,500 management companies.

“Despite the excitement over regulated funds such as UCITS over the recent years, these offshore Caribbean jurisdictions still remain the primary centres for establishing fund businesses,” Laven said in a statement about its white papers.

“With recent global regulatory developments, increased investor awareness and growing institutionalisation taking place within the industry, any businesses based offshore should ensure they meet the standards expected of any properly conducted business, regardless of its domiciliation. Offshore funds now have to compete with their onshore peers whose governance and operational processes are subject to legislation and guided through stringent regulation,” it continued.

Jerome Lussan, chief executive of the Laven group, said: “It is no longer just about performance and track record. The investors our due diligence team work for are just as interested in operational processes. After cases such as Weavering or Madoff, it is no wonder operational risk is high on the list of investors’ worries. We want to give the industry our views on how to attain business success through implementing appropriate, yet manageable, corporate governance processes.”

Laven said its reports will also include relevant case studies; the white papers will be distributed via the Laven group’s newsletter as well as being made available online.

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