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The classic characterisation of the British is the stiff upper lip that enables them to face misfortune bravely and resolutely.
Stanley Fink, former chief executive of Man Group plc, one of the world’s leading alternative investment groups, has joined International Standard
Luxembourg
The Grand Duchy of Luxembourg became in a few decades one of the leading locations for investment funds, being today the world’s second fund centre, overtaken only by the USA. Since 1959, when the first fund was established, the investment fund industry hugely expanded, counting 3,012 funds in March 2008. This success originated with the authorities’ encouraging attitude to foreign capital and investment, and was considerably strengthened by its prime location in the heart of Europe – close to the main markets targeted by investment funds -, by its highly qualified multilingual workforce, as well as by its political,
Jersey is a high-quality location for fund management and administration with more than four decades of experience in servicing the investment funds market.
FUND LEGISLATION
Collective Investment Funds (Jersey) Law 1988 and Control of Borrowing (Jersey) Law 1947.
Financial Services (Jersey) Law 1998.
NUMBER OF FUNDS
Overall
1,370
Collective Investment Funds
1,139
Expert Funds
401
Specialist funds
957
Private equity/venture capital
273
Property
157
Derivatives
17
Endowment policies
28
Hedge/alternative investment funds
409
Other
73
COBO (private) funds
231
ADMINISTERED FUND ASSETS
Overall
GBP 246.0bn
Collective Investment Funds
GBP 231.7bn
Expert Funds
GBP 14.4bn
Specialist funds
GBP 136.6bn
Private equity/venture capital
GBP 22.6bn
Property
GBP 31.3bn
Derivatives
GBP 173m
Endowment policies
GBP 1.4bn
Hedge/alternative investment funds
GBP 62.4bn
Other
GBP 18.8bn
COBO
Investor restrictions
Irish Funds are not required to have a minimum number of investors, however, on the whole, Irish regulated tax transparent funds must, depending on the category of fund, and the specific wording of the legislation, be offered directly or indirectly to the public or must be available to the public.
The following additional fund categories are not widely used either due to their tax status (non-designated funds) or the narrow investor requirements (collective investor funds):
Non-designated funds (no minimum subscription requirement: only available as variable capital investment companies and may not be sold to the public, these
