Guernsey is a flexible friend for fund managers

FUND managers are attracted to Guernsey for its flexibility in handling alternative structures, according to one expert. Guernsey Investment Funds' Association chairman Grant Cameron, pictured, said the island was an appealing jurisdiction because of its ability to deal with private equity, hedge, property, distressed debt and fund of funds.

According to a recent article published by the Financial Times Advisor, a lot of fund managers are looking to move out of places like Guernsey in order to set up Sicav funds elsewhere. Luxembourg-based group KMG Sicav Sif launched a platform earlier this summer which it claims has a faster route to market and cuts costs.

'On the contrary, we feel there are a lot of fund managers looking to move to Guernsey and others are looking to reinforce their strong links to Guernsey,' said Mr Cameron.

'The quarterly statistics for the period ended 31 March support this, with £203.8bn-worth of funds under administration in Guernsey, which translates to a year-on-year increase of 45.2%.'