Fund Domicile Selection: Enabling Global Alternative Asset Growth
February 7, 2023
Explore the domicile selection process for U.S. private capital managers seeking expansion.
Global investor demand for alternative investment is increasing as they seek to meet a range of objectives (e.g., diversification, income generation, higher returns) that have become harder to achieve with public equity and fixed income alone. Since year-end 2018, global private investment assets have almost doubled, increasing 92% and posting double digit increases each calendar year through 2021. Global alternative investment markets reached $8.7 trillion as of 3Q 2022 and hedge funds held another $3.6 trillion as of 2021.
Cerulli’s white paper, sponsored by Guernsey Finance/We Are Guernsey, examines the increasingly important decision of where to domicile funds for non-U.S. investors.
Use this white paper to understand key decision points:
Investor Preferences
Understand how domicile preferences vary across regions and client segments
Key Perspectives
Review the functional roles (e.g., legal, sales/marketing, accounting, product) typically involved in the domicile decision
Important Considerations
How much importance should be placed on regulatory regimes, service providers, substance requirements, and other considerations
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Report Authors
Daniil Shapiro, CFA
Director
Bio →
Daniil Shapiro, CFA
Director
Daniil is part of Cerulli’s Product Development practice, where he works on the identification, analysis, and reporting of asset management industry trends with a focus on exchange-traded funds (ETFs) and alternative investments.
Prior to joining Cerulli Associates, Daniil was part of the Product Management and Business Intelligence teams with the MainStay Funds, part of New York Life Investment Management. At MainStay, Daniil supported sales efforts via fund and ETF competitive analysis, product research, and development of marketing materials, as well as performance reporting. Before New York Life, Daniil was part of the risk management practice at Accenture, and held risk and compliance roles at HSBC’s investment bank.
Full biography here.
Brendan Powers, CFA
Director
Bio →
Brendan Powers, CFA
Director
Brendan is a member of Cerulli’s Product Development practice, which focuses on trends related to asset managers’ product development and management functions. This broadly includes assessing the opportunity for product development, evaluating emerging product trends, and understanding distribution and product positioning for investment products across retail and institutional channels.
Prior to joining Cerulli, Brendan worked as a Senior Client Associate at Eaton Vance Management, focusing primarily on the firm’s exchange funds.
Full biography here.
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