Guernsey’s position as a jurisdiction of choice for new and innovative funds has been strengthened with the launch of a new scheme that invests in the collectables market, according to Guernsey Finance, the jurisdiction's investment promotion body.
Launched by investment advisory boutique Emotional Assets Management & Research LLP (EAMR), the Guernsey-domiciled ‘Emotional Assets Fund 1 Limited’, will invest in a diversified set of ‘Emotional Assets’ across some 15 sectors of the collectables market, from fine art and rare stamps to vintage jewellery and rare manuscripts.
It is the first time that exposure to a broad and diversified range of 'emotional assets' has been achievable via a single fund vehicle.
Kleinwort Benson has been appointed as the administrator and financial custodian of the Guernsey Closed-Ended Authorised Fund, with Bedell Cristin as the Guernsey legal advisor.
The Emotional Assets Fund 1 seeks to provide qualified investors with an opportunity to achieve long-term capital appreciation. Its objective is to deliver a stable target growth rate of 15% per annum, with predictable volatility – at the same time preserving capital.
Bernard Duffy, Managing Director of EAMR, commented: “We chose to domicile the fund in Guernsey as it is such a user-friendly jurisdiction; it has robust legal system, a favourable tax neutral regime and excellent on-island administrators. Kleinwort Benson has a good reputation within the alternatives market, with specific experience in alternative asset classes, and has a hands-on approach to bringing on clients which helps the whole process."
He added: “At a time when conventional investment wisdom is being challenged and investors are questioning the investment merits of a range of assets, Emotional Assets are emerging as a viable and mainstream asset class.”
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