One of the reasons as to why the BVI introduced the Incubator and Approved Fund products in May 2015 was, partly, in response to the fact that fund launch numbers in the global hedge fund industry had started to steadily decline. Rising regulatory and compliance costs were hurting start-up managers
Circle Partners is an independent fund administrator with offices in the BVI, Cayman Islands, and across the EU, the Americas and Hong Kong. "We've seen a lot of growth in new BVI fund vehicles over the last 12 months – both the Incubator Fund and the more popular Approved Fund,"
Guernsey is marking the the 20th anniversary of the introduction of its Protected Cell Company (PCC) Ordinance on 1 February 1997, providing the island’s captive insurance sector with the first cell company legislation of its kind anywhere in the world. The subsequent success of this innovation is illustrated by the
Guernsey's funds sector stands to benefit from pressure on legal fees from fund managers and investors because of lower overheads and costs in the jurisdiction, says Ogier group partner Craig Cordle. Cordle (pictured), who joined the Guernsey investment funds team at the end of last year, says that because costs
Guernsey has introduced a Private Investment Fund (PIF) regime designed to provide fund managers with greater flexibility and simplicity. The PIF, which was developed in response to market demand by the Guernsey Financial Services Commission (GFSC) in consultation with the island’s GBP247 billion funds industry, recognises that certain investment funds
The Channel Islands Securities Exchange (CISE) has revised its membership rules so that firms from a wider range of jurisdictions can act as sponsors to listings on the exchange. The membership rules previously restricted sponsors to being entities established in the Channel Islands. Now they have been updated to allow
Granting Guernsey a “third country” passport under the Alternative Investment Fund Managers Directive (AIFMD) would lead to increased investment in European infrastructure projects, research by the island’s financial services regulator has found. The Guernsey Financial Services Commission (GFSC) undertook a survey of Guernsey fund administration companies in response to a
The Channel Islands Securities Exchange (CISE) has updated its listing rules to cater for a wider range of investment business. Chapter 7 of the exchange’s listing rules has until now been dedicated to investment funds but going forward it will be titled “investment vehicles”. This reflects an expansion of
Substance in the fund management sector, particularly in the context of the Alternative Investment Fund Managers Directive (AIFMD) and Base Erosion and Profit Shifting (BEPS) initiative, is of increasing importance, according to a Guernsey Finance white paper. Investment funds – Why substance is key, written by funds journalist Kirstie Brewer,
Four words spring to mind when discussing the evolution of The Bahamas as a leading international financial jurisdiction: regulation, location, expertise and innovation. Collectively, they provide a multi-layered value proposition that is helping The Bahamas cement a reputation for not only committing to a regulatory framework that embraces and, indeed,
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