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Award-Winning Fund Chooses Guernsey For Administration

by Jason Gorringe, Tax-News.com, London

03 December 2009


Guernsey Finance has announced the launch by HSBC Securities Services in Guernsey (HSSG) of a major, high profile fund worth USD1.5bn on the island.

HSSG has been chosen to provide administration services for the award-winning Tufton Oceanic Hedge Fund, managed by Oceanic Investment Management Limited.

Oceanic Investment Management is a subsidiary of Tufton Oceanic, a shipping investment house which focuses investment in shipping and oil services industries.

Paul Keltie, Head of Fund Administration for HSSG, said: “This is great news, not only for HSSG, but for Guernsey as a whole. This deal brings new investment to the island, which can only be of benefit to our economy and community."

"It clearly demonstrates that we have the capability and talent in Guernsey to provide leading and innovative service solutions to support such truly alternative funds.”

A spokesman from Tufton Oceanic added: “We transferred the administration of the Fund to HSSG because of their ability to provide leading offshore administration services. We are confident that the Group will deliver us the best administrative support, to compliment our continuing growth strategy.”


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