Registered Interest

Originally Published in Investor Services Journal, June 2007

Guernsey’s fund industry is in 2007 continuing to experience the growth that was the hallmark of 2006 and in particular there has been significant interest from fund promoters and sponsors in the Island’s new registered closed-ended funds regime. Indeed, already 32 such funds have been given consent by the Guernsey Financial Services Commission (GFSC) since its introduction on 1 February this year.

The ‘registered fund’ regime streamlines the consent process – making domiciling funds in the Island simpler and quicker – by shifting the burden of responsibility for reviewing the promoter and the investment manager and the prospectus or admission document from the GFSC to the proposed Guernsey licensed fund administrator.