Nordic funds shun Cayman after blacklisting

Nordic pension funds and institutional investors have stopped new investments in Cayman-based entities following the decision last week by the European Union to add the Cayman Islands  to its list of non-cooperative jurisdictions in tax matters. Pension funds in Denmark, Norway and Sweden, said they would no longer invest in the jurisdiction but may not necessarily be able to unwind existing investments, Investment & Pensions Europe reported. In Denmark, the €117.6bn pension fund ATP has said it is not investing in the Cayman Islands after the recent update of the EU blacklist. Lar...