Carey Olson Maintains Guernsey Market Dominance

by Jason Gorringe, Tax-News.com, London

30 October 2009

Carey Olson has been confirmed as the Guernsey legal adviser with the largest market share in Guernsey-domiciled funds for the fifth consecutive year, according to the Lipper Fund Encyclopaedia.

The results, published on October 27, 2009, show that Carey Olson represents 50.18% of funds domiciled and serviced in Guernsey for the period May 2008 through to June 2009.

Since 2005, Carey Olsen has maintained its 50% share year-on-year, according to the Lipper publication.

Commenting, Graham Hall, partner and head of Carey Olsen’s corporate team in Guernsey, stated that:

“Our funds team is very pleased to have maintained its leading position in the local funds market, particularly against the backdrop of the financial climate where there has been an overall decline in both the numbers of funds launched and the asset values they hold. The market has been extremely competitive and I am delighted that we have succeeded in maintaining our dominant position for five years.”

The Fund Encyclopia, produced by Lipper Fitzrovia since 1995, is based on statistics from Guernsey-domiciled collective investment schemes that are regulated by the Guernsey Financial Services Commission (GFSC). They include open-ended schemes, qualifying investor schemes, closed-ended schemes, as well as funds that are domiciled and regulated in other jurisdictions.

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