Fiona Le Poidevin, the former Chief Executive of Guernsey
Finance, explains why issues of substance are driving up interest
among fund managers in the potential upside of relocating to
Guernsey.
During the last year we have seen increased interest among fund
managers in the potential upside of relocating operations to
Guernsey. A contributing catalyst has been the introduction of the
Alternative Investment Fund Managers Directive (AIFMD), including
the end of the transitional provisions in jurisdictions such as the
UK.
AIFMD
AIFMD has introduced some potentially onerous requirements but
managers can put themselves out of scope by establishing their
funds in non-EU jurisdictions, such as Guernsey. Guernsey has
evolved its regulatory regime so that business which does not touch
the EU can avail of a non-AIFMD route, while EU markets can be
accessed through National Private Placement (NPP) regimes or the
Island's opt-in AIFMD equivalent regime. This means
