ARTICLE · 09 FEBRUARY 1998

Guernsey Introduces New Rules For Professional Investor Funds

Bachmann Trust Company Ltd.

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GuernseyTax

David Archer

Following consultation with the local fund industry and their professional advisers, The Collective Investment Schemes (Qualifying Professional Investor Funds) (Class Q) Rules, 1998 ("Class Q Rules") were made (see endnote 1) by the Commission at its meeting on 3 February. The Class Q Rules will come into force on 2 March 1998.

Since 1990, when the Collective Investment Schemes (Class B) Rules were introduced, there has been a steady increase in the level of interest in funds targeting institutions and high net worth individuals. In response to demand from international fund sponsors and in order to maintain its competitiveness in this area where Guernsey has cornered a niche market, the Commission has established the Class Q Rules which are specific to qualifying, professional investors.

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