Asset management

The asset management industry in Bermuda has grown over the past several years. Starting primarily, as a jurisdiction for funds which serviced the UK markets and UK expatriate community, Bermuda has developed into a full service financial center supporting internationally recognised hedge funds, private equity funds, investment advisers and broker-dealers.

Bermuda is now an acknowledged and sophisticated domicile for hundreds of offshore funds which in aggregate have net assets of more than $30 billion. It offers an infrastructure which is unsurpassed in the offshore world, with established and knowledgeable industry service providers including lawyers, bankers, and accountants, fund administrators and other accredited professionals.

In addition to servicing Bermuda-organised funds, Bermuda-based service providers provide administration, custody and professional services to a substantial number of hedge funds and private equity vehicles formed in other offshore jurisdictions. More recently, Bermuda’s beneficial tax and regulatory regime has attracted international investment advisers, broker-dealers and promoters.

Early on, PwC recognised the importance of the asset management industry to Bermuda. We have dedicated significant resources to ensuring clients receive the highest quality service and advice. We now offer a range of multidisciplinary services to investment industry clients, with more than 40 people on our team.

We provide assurance and consulting services to many of the largest offshore investment vehicles across the full range of industry participants.

Our tax professionals provide specialized tax consulting and compliance services focused on the offshore fund industry. We assist our clients in tax efficient structuring, partnership allocations and compliance with the myriad of complex tax laws which affect partnership reporting.

In combination with our colleagues onshore, we also assist in the development of technical applications, internal controls and regulatory compliance procedures to assist in day to day operations.