Attracting hedge fund business to Bermuda was the focus for a delegation of the Island's top international business executives who travelled to Canada this week.

The representatives from Bermuda's alternative investment industry hosted presentations and a panel discussion with the Hedge Fund Hotel, an organisation and facility which provides opportunities for hedge funds and their advisors, in Toronto on Monday.

The event examined the costs and benefits to Canadian funds and their advisors of setting up their offshore funds on the Island and featured Greg Wojciehowski, CEO of the Bermuda Stock Exchange (BSX), Mark Cave, corporate attorney at Mello Jones & Martin (MJM) (both sponsors of the presentation) and Peter Hughes, managing director of Apex Fund Services. Also in attendance were Alex Erskine, a partner at Appleby and Susan Stirling, director of marketing for the Bermuda International Business Association.

Mr. Wojciehowski said that Canadian funds with international investors had a real opportunity to create additional value by choosing Bermuda as a market to put their money.

"With the global economy sputtering and the markets around the world struggling, funds around the world are focused more than ever on their costs of doing business and their ability to attract and retain international investors," he said.

"Bermuda is simply better, faster, more cost-effective and more transparent than any other offshore jurisdiction and smart fund managers and their advisors are re-examining their decisions and when they we do, we believe they will choose Bermuda. We delivered our message in a practical and substantive way and it was extremely well-received."

Ms. Stirling said the delegation's message was reinforced by the comments of Canadian attorneys from Borden Ladner Gervais.

"Bermudians should be more focused than ever on seizing the opportunities that exist in Canada and other markets," she said.

"Now is not the time to sit back and wait for the dust to settle, but rather to engage in active marketing in key jurisdictions, so that when the economy returns and the market turns, Bermuda will be well-positioned to capitalise and grow."

Mr. Hughes went on to point out the fundamental advantages Bermuda had over other jurisdictions.

"We are transparent and accessible," he said. "We move quickly and efficiently, but with proper oversight and due diligence and we have advisors with real substance who add value in the structuring, administering and operating of funds offshore."