City AM – Gibraltar is looking to grow as an international destination for hedge funds as the prospect of tighter regulation makes more exotic jurisdictions appear less attractive.
Senior figures said the British territory, which is part of the European Union, could benefit from the forthcoming Alternative Investment Fund Managers directive which will make it harder for non-EU funds to market themselves to European investors. Funds based in Gibraltar are regulated in line with those in Dublin and Luxembourg, meaning they will be automatically “passported” to customers on the continent – unlike those in locations such as the Cayman Islands.
