Guernsey’s Fund Sector Continues Progress In Asia

Two new developments show the inroads which Guernsey's fund sector is making in the Asian market. Fiona Le Poidevin, Chief Executive of Guernsey Finance, has just returned from a week in China where it was confirmed that Guernsey fund managers can now apply for Qualified Foreign Institutional Investor (QFII) status.

In addition, Guernsey-headquartered fund administrator International Administration Group (IAG) has announced joint ventures in both Hong Kong and Singapore with the Tricor Group. Miss Le Poidevin said: "I have just spent a week in China continuing the dialogue with both regulatory and professional services contacts we have built up since we established our office in Shanghai at the end of 2007.