Isle of Man Hedge Funds 2011

Download the Special Report Isle of Man Hedge Funds 2011

Articles

Gill Crennell, senior associate, Appleby

Reputation key as island targets higher international profile

By Simon Gray – The Isle of Man has suffered its fair share of the alternative fund industry’s woes during the past three years of financial crisis and economic downturn, especially with the loss of one of its largest fund administrators, HSBC, and a decline in assets under administration from a peak of USD58bn to USD34bn at the end of 2009. However, members of the industry and government officials responsible for promoting the sector say the island is well positioned to recover ground in a business environment characterised by increased focus on transparency, regulation and governance – not to mention costs. »


Peter Craig, partner, PricewaterhouseCoopers in the Isle of Man

Licensing change eases path for start-up managers

By Peter Craig – The alternative investment industry is currently seeing a surge in potential new entrants thanks to the shake-out engendered by the financial market turbulence of the past three years and the impact of new restrictions on proprietary trading by financial institutions. As the investment outlook continues to brighten, the alternative fund sector is poised to benefit from a new influx of talent. »


Brian Donegan, head of business development for the fund sector, IoM government

Twin-track approach targets managers and fund administrators

By Simon Gray – The Isle of Man is seeking to give its fund services industry new impetus by attracting fresh fund administration business and is looking for new service providers to expand capacity in the island. But at the same time the authorities hope the jurisdiction’s advantages in areas such as taxation, operating costs and set-up incentives can tempt start-up alternative fund managers to establish themselves on the island and existing ones to move part of their operations there. »


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