As more funds look to register as segregated accounts companies in Bermuda, regulatory steps are being taken to ensure the offshore financial centre remains a market leader
Bermuda fund regulation is flexible in nature and as a result makes the jurisdiction an ideal choice for innovative fund structures. For example, the use of mirror (or reference) funds in Bermuda typify this flexible approach. A mirror fund is a fund designed to replicate the performance of another fund, typically involving the use of swap contracts, rather than attempting to replicate the investments of the onshore fund by means of direct investment. In addition, we are seeing a growing number of mutual fund clients seeking advice on the use of special purpose vehicles, which have the...
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