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BVI Hedge Fund Services

BVI Hedge Fund Services 2015
BVI Hedge Fund Services 2015

Fri, 30/01/2015 - 11:47

The extension of the BVI's Approved Manager regime to managers running non-BVI funds has been a rewarding move for the jurisdiction, with several of the islands' leading service providers reporting a significant uptick in activity as a result. The jurisdiction is not resting on its laurels and is strengthening its toolbox of products such as special purpose acquisition vehicles - popular with Chinese asset managers - with new and innovative products designed to distinguish it from the competition, as outlined in this report.

The 'BVI Hedge Fund Services 2015' special report comprises 6 separate articles listed below, these can be read individually or as a sequence.

James Williams, Hedgeweek

BVI funds sector calls for introduction of new products

Fri, 30/01/2015 - 11:55

By James Williams (pictured) – It seems the decision by the BVI’s financial regulator, the Financial Services Commission (FSC), last year to extend the Approved Manager regime to managers running non-BVI funds, as well as those running managed accounts, was prudent. During the course of 2014, several of the islands’ leading law firms saw increased activity in managers applying for Approved Manager status.  »

Simon Schilder, Ogier

New fund products being proposed to the FSC

Fri, 30/01/2015 - 12:01

The BVI has seen some good traction in the Approved Manager regime since it was introduced at the end of 2012. Whilst this has proved popular with start-up and small- to mid-sized managers looking for a lighter touch regulatory oversight from the local regulator, the feeling amongst the islands’ leading law firms was that a new fund product was needed to cater more specifically to this market sector. »

Mara Spencer, ACE Fund Services

Steady growth in fund subscriptions

Fri, 30/01/2015 - 12:04

In many respects 2014 was a year of consolidation and possibly a sign of better things to come in the BVI in the view of Mara Spencer (pictured), Managing Director of ACE Fund Services. It was, she says, a period of stability during which certain strategy funds, in particular those with an FX slant, performed well. »

Grant Green, KPMG

BVI fund structuring and corporate governance developments

Fri, 30/01/2015 - 12:09

By James Williams – There’s a general air of optimism among the BVI’s fund practitioners. Although the average hedge fund recorded sub-four per cent, the lowest average return since 2011, there was nevertheless a clear uptick in trading activity, principally among some of the islands’ larger managers.  »

Marie-Claire Fudge, Mourant Ozannes

Interest in BVI segregated portfolio companies rises

Fri, 30/01/2015 - 12:15

There appears to have been a real pick-up in interest in BVI segregated portfolio company (SPC) formations over the last 12 months. Many recent conversations with start-up managers seem to be about forming such structures according to Marie-Claire Fudge (pictured), head of Mourant Ozannes’ BVI funds practice.  »

Nicolaas Faure, Drake Fund Advisers

Seeing the fruits of the Approved Manager regime

Fri, 30/01/2015 - 12:19

According to the Q3 statistical bulletin published by the BVI Financial Services Commission (FSC), the islands’ financial regulator, a total of 27 limited partnerships were recorded in Q2 2014 compared to 16 in Q2 2013. That figure rose in Q3 to 36.  »

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