Guernsey Government's Investments To Be Locally Managed
by Jason Gorringe, Lowtax.net, London
21 April, 2016
In a move to support the local finance industry, Guernsey's Government has announced that it is to create an investment pool, which will be managed by Guernsey-based investment managers.
The investment pool has an initial target size of GGP50m (USD72m), and is being funded from Guernsey's existing reserves currently being managed by a number of offshore investment managers.
The investment managers that have been initially selected are: Brooks Macdonald Asset Management Limited, Canaccord Genuity Wealth (International) Ltd, Edmond de Rothschild Asset Management (C.I.) Limited, Odey Wealth Management (C.I.) Ltd, and Ravenscroft Investment Management.
The Government said the investment pool has an initial target size of USD50m and is being funded from existing reserves, which are currently being managed by a number of offshore investment managers.
Treasury Minister, Gavin St Pier, commented: "We are pleased to announce this ongoing initiative to support and access the talents of the local fund management industry to assist us in meeting the Department's various investment responsibilities. This continues our policy of using on island investment services wherever possible and subject to the same high standards we apply to all managers. It clearly makes sense to keep as much business and revenue on island as possible."
See all of today's news