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Guernsey's Private Placement Regime Proves Popular

by Jason Gorringe, Lowtax.net, London
19 February, 2015

Figures from the Guernsey Financial Services Commission show that at the end of January almost 50 Guernsey alternative investment fund managers have used Guernsey's national private placement regime to market Alternative Investment Funds (AIFs) into Europe.

In response to the EU Alternative Investment Fund Managers Directive (AIFMD), Guernsey introduced a dual regulatory regime through which it is possible to continue to distribute Guernsey funds into both EU and non-EU countries. The existing regime, which continues to be on offer alongside an AIFMD-compliant route, may be used by investors and managers not requiring an AIFMD fund.

The recent figures reveal that 46 managers promote Guernsey investment funds in one or more European Economic Area member state(s).

Sinead Leddy of Guernsey Finance said: "From the outset, Guernsey's response to AIFMD has been second-to-none, ensuring it is ideally placed to continue to provide access to Europe. The statistics show that NPP from Guernsey is being used to target the key countries which promoters wish to market into. A fund typically markets in between two to four countries and NPP is the ideal approach for this model."

"We continue to hear positive feedback from promoters and their advisers that Guernsey's regulatory environment is straightforward and, more importantly, things can progress in a timely manner. The turn-around times in Guernsey are held to be low compared with those of our competitor territories where delayed applications can cause issues when bringing a new product to market."

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