In the 1970s and 1980s it was private wealth management. In the ’90s, securitisation was the ‘in’ thing. Now we are in the ‘noughties’ and everyone offshore wants to be in funds.

Unreliable returns from equities and bonds have led to a rise in the use of alternative or non-traditional investment classes. Investors have been increasingly hungry for exposure to these alternative investment classes through investment or mutual funds, particularly private equity, hedge and property funds.