Herald Fund Services launches fund in Jersey
Herald Fund Services, working in conjunction with the Jersey law firm Crill Canavan, has launched the Comprehensive Investment ICC.
The new product enables advantage to be taken of Jersey’s regulatory system whilst reducing the set-up costs to a level more often associated with other jurisdictions.
Mike Capraro, managing director of Herald Fund Services, says: “Jersey leads the way in the regulation of international finance centres but regulatory excellence comes at a price to the customer and this premium can be an obstacle, particularly for start-up fund managers.
“By commoditising the set up of a fund within a product like the CIICC, we’re able to bring costs down to the level of those of competing jurisdictions such as Malta and Cayman. This is achieved whilst maintaining the high level of regulation for which Jersey is so well known.”
All cells within the fund are individually authorised and regulated by the Jersey Financial Services Commission as expert funds. They share common service providers, such as the administrator, auditor, custodian and banker, but are unique from one another in that they appoint their own separate investment managers and boards of directors.
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