Investment Business in GuernseyCollective investment funds have been established in Guernsey for almost 40 years and the Island is host to approximately forty fund managers, administrators and custodians. There has been steady growth in this sector of finance business and the Commission has witnessed an increase in the number of players and the number of funds over the years, as well as a large increase in the net asset value ("NAV") of funds under management.
The international market place for Guernsey open and closed-ended funds is illustrated by the fact that funds are promoted/sponsored by leading institutions in over 38 countries. Guernsey is ideally suited geographically for the provision of fund management and administrative services being within the European time zone and conveniently placed between the US and Far East time zones. The advantage has been recognised by many leading financial institutions which use the Island as a base for their fund management activities.
The Channel Islands Stock Exchange ("CISX") was established in 1998 as a joint venture between Guernsey and Jersey to complement the existing range of services already available locally. The CISX is based in Guernsey and regulated by the Commission.
The Investment Business Division provides firm but practical regulation and works closely with the Island's business community. The Division, through its Director and staff, is always prepared to meet potential promoters/sponsors, or their professional advisers, in order to discuss matters of policy and practice regarding proposed open or closed-ended funds.
The Investment Business Division also regulates non-fund investment business in connection with general securities and derivatives, including the following areas:
- The provision of management, administration or custody services in relation to closed-ended investment vehicles;
- Discretionary and non-discretionary asset management;
- Stockbroking;
- The sale or promotion of investment products apart from those which are pension- or insurance-linked;
- The provision of investment advice
The Commission applies its standard policy of selectivity to potential investment business of all descriptions. Securities business is a licensable activity.
For more information please contact Peter Moffatt, Director or Carl Rosumek, Deputy Director of the Investment Business Division. |
