THE Isle of Man continues to dominate the Alternative Investment Market (AIM), research commissioned by the Manx Government has shown.

The research, conducted by Hemscott in 2011, shows the Island to be in first place in respect of the largest number of non-UK incorporated AIM top 100 companies with a market share of 18.6 per cent, up from 16.3 per cent in 2010.

Bermuda and British Virgin Islands took second and third place respectively. In terms of total non-UK AIM companies, the Isle of Man has retained its market share over the last two years, leading overall with 50 companies, despite challenging market conditions.

The current market capital of non-UK AIM 100 companies registered in the Isle of Man stands at £1,147 million (£1.14 bn).

Economic Development Minister John Shimmin MHK said: "This research shows the Isle of Man performing very well in the AIM market despite difficult market conditions and serves to illustrate that the Island is the preferred gateway to London for international corporate capital raising requirements.

"This is another example of how the Isle of Man is a significant contributor to the City of London and why the Crown Dependencies are important to the UK economy as a whole.

"These findings are a great vote of confidence for the Isle of Man and represent an excellent return on the good work that the private sector and government have invested into promoting our attractive proposition."

Chief executive officer of the Isle of Man Chamber of Commerce Mike Hennessy said: "It is encouraging to see that the Isle of Man has retained first place in relation to the largest number of non-UK AIM top 100 companies.

"In addition, to have increased this market share from last year is very positive news. There is every confidence that this success will be repeated in 2012 given the expertise base that we have and the environment that we provide."