It is hard to get lost there….

And it's rather easy to find a fine Cuban cigar and a chug of whiskey or rum to reflect on life.

Cuban cigars abound… but they are no bargain (I only bought a few, not the whole box). The prices are in Cayman Island dollars, so add 25% to get to a USD price. And fine Cuban rums… But at US$200 a tot (and more), all I did was admire them.

Given that we were there, I thought I'd share some additional thoughts on this cluster of islands in the sun. The Cayman Islands has seen significant growth in fund registrations and assets under management (AUM) over recent years, to the extent that it is now definitely the primary premier offshore financial centre. Some data points:

As of today, Cayman hosts over 27,000 regulated investment funds, including hedge funds, private equity vehicles, and mutual funds.

They've trillions in AUM, with continued year-on-year increases, particularly in private credit, digital assets, and hedge funds.

It is attracting capital for three simple reasons:

Tax Neutrality: Cayman imposes no direct taxes on income, capital gains, or corporate profits, making it appealing for wealth preservation and intergenerational planning.

Flexible Regulation: While regulated, Cayman offers streamlined compliance and fund structuring options.

Sophisticated legal and financial ecosystem: Top-tier law firms, auditors, and fund administrators operate locally, ensuring institutional-grade infrastructure.

And then the big one that is impacting not just this little group of islands but other similar locations around the world such as Dubai, Abu Dhabi, BVI — all experiencing an influx of capital that I call geopolitical capital flight.

It isn't so much that the Cayman Islands is so wonderful, but rather that so many other parts of the world have taken a communist pill and accelerated the stealing of their citizens' assets. In a land of the blind a one eyed man is indeed king.