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UK Regions Welcomed Guernsey Fund Industry Roadshow

by Jason Gorringe, Tax-News.com

28 September 2007

It was announced on Friday that a series of seminars hosted by the Guernsey funds industry in various UK regions have concluded successfully.

Professionals in Manchester, Leeds and Edinburgh learnt at first-hand more about establishing investment funds in Guernsey and the potential benefits of doing so for themselves and their clients.

In total more than 130 delegates attended the three sessions.

“The roadshow has been a great success. There have been strong attendances, the feedback I have received is that delegates found the sessions informative and stimulating and there has also been genuine interest – including from those that have not used us previously – about establishing investment funds in Guernsey,” announced Peter Niven, Chief Executive of GuernseyFinance – the promotional agency for the Island’s finance industry.

At each seminar a panel of experts from Guernsey’s fund industry discussed private and public fund structures in Guernsey, illustrated by a working example of property as an increasingly popular asset class. These interactive seminars also included a question and answer session.

GIFA member and chair of the sessions, Mark Huntley, Managing Director of Heritage International Fund Managers, announced that: “We welcomed the opportunity in each of the three regions to show the substance and depth of the one-stop shop that makes up Guernsey’s fund industry and the options available to fund promoters seeking to establish an offshore international fund structure.”

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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