Originally published in Funds Europe, December/January
2009/10
Grant Cameron, Chairman of the Guernsey Investment Funds
Association (GIFA), looks at the latest developments in the
Island's funds industry.
Writing in this column just over a year ago I remarked that the
fund industry in Guernsey was performing robustly despite major
changes in the global financial system. Since then, we have seen
further fallout from the sub-prime crisis, with the 'credit
crunch' triggering a general economic downturn. As a leading
international finance centre Guernsey cannot be completely immune,
although the Island has remained resilient in the face of these
pressures. Perhaps the most significant development has been the
interlinked increase in demand for the regulation of markets and
the greater focus on so-called 'tax havens' or
'offshore' centres. I am glad to report that the Island is
very much ahead of the game and therefore well positioned to ensure
it has a thriving funds
