Cayman Island Holds US$265 Billion in Treasuries
A Caribbean financial centre is now the third biggest foreign owner of US government debt. Cayman Islands where most hedge funds are domiciled holds US$265 billion of Treasuries as of March, up 31% from a year earlier.
“Cayman Islands where most hedge funds are domiciled holds US$265 billion of Treasuries as of March, up 31% from a year earlier.”
This makes it the largest holder after China and Japan. Those nations each own more than $1 trillion of Treasuries. The surge in ownership of U.S. debt for the Caribbean getaway shows that hedge funds are joining more traditional mutual fund managers in buying Treasuries amid lack-lustrous returns in other assets, with many global stock indexes posting losses in 2016.
About US Treasury
The Treasury Department is the executive agency responsible for promoting economic prosperity and ensuring the financial security of the United States. The Department is responsible for a wide range of activities such as advising the President on economic and financial issues, encouraging sustainable economic growth, and fostering improved governance in financial institutions. The Department of the Treasury operates and maintains systems that are critical to the nation’s financial infrastructure, such as the production of coin and currency, the disbursement of payments to the American public, revenue collection, and the borrowing of funds necessary to run the federal government. The Department works with other federal agencies, foreign governments, and international financial institutions to encourage global economic growth, raise standards of living, and to the extent possible, predict and prevent economic and financial crises. The Treasury Department also performs a critical and far-reaching role in enhancing national security by implementing economic sanctions against foreign threats to the U.S., identifying and targeting the financial support networks of national security threats, and improving the safeguards of our financial systems.
Visit: US Treasury
The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals. Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.
Get The Wealth Insider Daily
- For Press Release, please contact firstname.lastname@example.org
- For Media-related enquiries, please contact email@example.com
- For Advertisement, please contact our official ad agency