Guernsey Funds Roadshow Coming To UK Regions

by Philip Morton, Investors Offshore.com

10 September 2007

It was announced on Friday that finance industry professionals in the UK regions will have a chance to learn at first-hand more about establishing investment funds in Guernsey and the potential benefits of doing so for themselves and their clients.

Guernsey and its Investment Funds Association will be hosting a series of Masterclass seminars entitled ‘Demystifying Funds in Guernsey’, in both Manchester and Leeds on Tuesday 25 September, and in Edinburgh on Wednesday 26 September.

“These seminars, which include a case study on establishing a property fund, are an ideal opportunity for professionals in these regions to question Guernsey experts about how they and their clients can benefit from a relationship with the Island in the future,” explained Mike de Haaff, Chairman of the Guernsey Investment Fund Association (GIFA).

Peter Niven, chief executive of GuernseyFinance – the promotional agency for the Island’s finance industry, added:

“This is the first time we have held a roadshow in the regions, recognising their increasing importance as leading UK financial services centres. It also comes at a time when Guernsey’s funds industry is booming – the value of funds under management and administration is at record levels, as is the number of funds being established and there is the promise of more to come, not least because on-going enhancements are making the establishment of funds in the Island simpler and quicker."

At each seminar a panel of experts from Guernsey’s fund industry will discuss private and public fund structures in Guernsey, illustrated by a working example of property as an increasingly popular asset class.

The value of funds under management and administration in Guernsey reached a record high of GBP155.6bn at the end of June 2007, an increase of GBP15.2bn (10.8%) from the GBP140.4bn recorded at the end of March 2007 – the previous high – and a rise of GBP32.3bn (34.8%) year on year.

The number of funds approved by the GFSC also reached a new high of 1,024 by the end of June 2007, an increase of 43 (4.4%) from the 981 at the end of March 2007 – the previous high – and a rise of 179 (21.2%) from the same time in 2006.

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