BVI Hedge Fund Services 2014

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Articles

James Williams, Hedgeweek

Extension opens door to managers with non-BVI funds

On 2 January 2014, an extension to the BVI’s Approved Manager regime was brought into legal force. When this lighter touch regulation was introduced at the end of 2012 demand was strong. The product proved, perhaps, to be more popular than the Islands’ financial regulator, the BVI FSC, had originally expected. »


Simon Schilder, Partner, Ogier

BVI funds – structuring trends and developments

By Simon Schilder, Partner, Ogier – Whilst the twin challenges of investor capital continuing to favour established investment managers and increasing barriers to entry for new start-up investment managers, meant that at times 2013 was a fairly challenging year for BVI fund practitioners, for the new funds which did launch during the year, a number of interesting markets trends have continued to emerge and develop. »


Nicholas Faure, Drake Fund Advisors

Cracking the operational blueprint

Over the last 24 months, fund administrator Drake Fund Advisors, an emerging market specialist with approximately USD900million in AuA, has established a number of licenses across the globe and fanned out from its BVI headquarters. The modus operandi behind this has been to scale up its business by focusing uniquely on the investor and develop a ‘follow a sun’ model that has, according to Executive Director Nicolaas Faure (pictured), helped Drake crack the operational blueprint. »


James Williams, Hedgeweek

Global legislation drives improvements in due diligence

“By allowing managers of non-BVI funds to apply for the Approved Manager license it simply strengthens the BVI product even more,” comments Nicolaas Faure, Executive Director of Drake Fund Advisors, an emerging market specialist. “We are one of the preferred administrators for start-ups so this will add to the arsenal when we talk to new managers and present our services. In addition to the law firms, we are definitely sharing in the optimism of this updated Approved Manager regime. It should have probably been there from day one.” »


Michael Doyle, Harneys

Extension of BVI approved manager regime

By Michael Doyle (pictured), senior associate, Harneys – Investment Business (Approved Manager) Regulations, 2012 (Old Regulations) came into force on 10 December 2012 and introduced a regulatory light investment management regime for investment managers incorporated or formed as BVI companies or partnerships (Approved Managers). The Approved Manager regime has been remarkably successful and popular with start-ups, family office and closed ended investment managers by striking the right balance between regulation, cost and flexibility, however it has not been available to investment managers who manage non-BVI funds. »


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