Guernsey is increasingly recognised by fund sponsors and promoters as a leading international centre for an array of investment business, such as private equity, alternative investments, property funds, hedge funds and funds of hedge funds.
The Island’s infrastructure and expertise is particularly conducive to conducting such business with experienced fund managers, administrators and custodians; pragmatic regulation; fast track capability; access to major stock exchanges; modern legislation; competitive tax environment; bespoke IT solutions; accounting services; and legal expertise.
Promoters from outside Europe are also attracted to using Guernsey because the Island’s location between the UK and France not only means it is in a convenient time zone but, together with its own stock exchange - The Channel Islands Securities Exchange - is ideally placed for accessing European markets. In addition, Guernsey incorporated companies can now also be listed on the Hong Kong Stock Exchange, which means that the Island provides a gateway to securing capital from across the globe.
The international marketplace for Guernsey funds is illustrated by the fact that they are now promoted or sponsored by leading institutions in more than 55 finance centres.
At the end of December 2013 the overall value of funds under management and administration in Guernsey stood at £266bn.
The Island also has expertise in using a wide range of investment vehicles including unit trusts, PCCs, ICCs and limited partnerships.
World-renowned investment management companies have the operation of their investment funds facilitated in the Island, where there is high quality legal, accounting, valuation, registrar, company secretarial and audit services for the structuring, launch and administration of funds.
Guernsey's administrative heritage is being increasingly complemented by the growth of investment management services. This sector includes subsidiaries of large multinational houses as well as independent boutiques. In combination these firms deliver the widest range of asset management and stockbroking solutions to both private and corporate clients.
Fiona Le Poidevin is Chief Executive of Guernsey Finance, the promotional agency for Guernsey’s finance industry.
Her role includes business development and the promotion of Guernsey’s finance industry in the Island’s target markets including Europe, the US and the emerging markets, technical research to support promotional activities and liaison with industry associations and government.
Previously a senior tax manager with a Big 4 accountancy firm, she has over 15 years’ experience working in financial services in both the UK and Guernsey.
Miss Le Poidevin is a Chartered Accountant, a member of the Institute of Directors and holds the IoD Diploma in Company Direction.