WEST PALM BEACH, FL (HEDGECO.NET) – The Alternative Investment Management Association (AIMA) – the global hedge fund and alternative investment industry association – has today announced the launch of its Cayman Islands Chapter.

The new Chapter is unique in the history of AIMA. It has been formed both at the request of the industry and with the strong backing of the Cayman Island regulator, the Cayman Islands Monetary Authority and the Government’s Portfolio of Finance & Economics.

Christopher Fawcett, Chairman of AIMA said: “This is a notable and natural milestone, and a signal of AIMA’s growing influence worldwide. Cayman is an integral part of the hedge fund industry, with the majority of hedge funds globally domiciled there”.

The Cayman Islands become AIMA’s seventh Chapter worldwide – following Australia, Canada, Hong Kong, Japan, Singapore and South Africa. AIMA now has over 1000 corporate members in 46 countries.

Chapters of AIMA are strategically positioned regional operations created by AIMA members. They are located in countries where there is a desire to apply the global objectives and initiatives of AIMA in a manner specifically tailored to the local market.

Gary Linford, Head of Investment & Securities Division for the Cayman Islands Monetary Authority commented: “With the wealth of knowledge that sits in the Cayman Islands, this new AIMA Chapter will provide the ideal platform for the Cayman hedge fund industry to make a more public contribution to the global hedge fund debate”.

The Chairman and Executive that will lead the new AIMA Cayman Chapter for the next two years have also been announced.