First Open-Ended Private Investment Fund Established In Guernsey

Freedom Select Funds PCC Limited has been converted to become the first open-ended Private Investment Fund (PIF).

Freedom Select Funds (FSF) was established as a registered closed-ended fund in 2016. The fund's investment objective is to achieve significant long-term capital appreciation by investing primarily in a managed futures programme with the excess cash to be invested in portfolio of alternative investment assets.

The fund is managed by Freedom Asset Management Limited (FAML) and is the seventh PIF to be established in Guernsey since the rules were introduced in November.

Offshore law firm Collas Crill, including Group Partner Paul Wilkes and associate Alex Wickens, advised on the conversion as lead counsel to Freedom.