Positive Reception For Guernsey's Manager Led Product Launch
by Amanda Banks, Lowtax.net, London
18 May, 2016
Guernsey's new Manager Led Product was warmly received by a London funds audience when it was launched at the Guernsey Funds Forum last week.
The annual funds conference, attended by nearly 500 delegates, "was the perfect setting to announce the immediate launch of the Manager Led Product," said Guernsey Finance Chief Executive, Dominic Wheatley.
Wheatley said the Manager Led Product "aims to ensure a proportionate risk-based level of product regulation for any Alternative Investment Fund Manager (AIFM) that establishes itself in Guernsey and seeks to market into Europe under the National Private Placement Regime arrangements."
In his introduction, Wheatley told the audience that the Manager Led Product would place regulations on the AIFM only, adding: "We see the Manager Led Product as offering a very attractive vehicle for managers needing substance in the island, an area in which we expect to grow. Once an AIFM has been licensed by the Guernsey Financial Services Commission, they will then be able to launch new partnership structures and corporate funds by simple notification."
"Capital will be concentrated at the AIFM level. This will facilitate the quick and efficient launch of new funds with a minimum requirement for red tape but with no diminution of the quality of regulatory oversight."
The Guernsey Funds Forum was hosted by Guernsey Finance in conjunction with the Guernsey Investment Fund Association.
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