Management Companies
The FSC issued 22 Management Companies (‘MCs’) during the period under review compared to 18 for the financial year 2008-2009. There were 149 MCs as at 31 December 2010.
Market Trends
The MCs have shown sustained growth during the financial crisis. Based on audited financial statements filed with the FSC for 2009 and 2010, the turnover amounted to USD 226,344,000 whilst the PBT stood at USD 75,132,000.
Global Business Licences
During the period under review, 1,698 Category 1 Global Business Licences and 1,716 Category 2 Global Business Licences were issued by the FSC.
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