KPMG report shows set-up times for funds vary widely

The time taken to set up a fund in offshore centres varies between 24 hours and 12 months, according to a report soon to be released by KPMG. The KPMG Funds and Fund Management 2000 surveys a number of criteria for setting up a fund, including investment restrictions, fund borrowing, costs and set-up time. According to the editor of the report, Robert Barker, who is based in KPMG Ireland, the wide variation in fund set-up times is down to the amount of regulatory hurdles funds have to overcome plus sheer volume. Barker said: "Basically, funds can be set up quicker in centres which have...