Part of South African wealth management business Citadel Investment Services, Peregrine Wealth was established to help South African clients diversify their portfolios globally.
Since launching the group’s first locally-based fund on 3 June 2000, Peregrine’s presence in the island has grown, with the group now offering services in discretionary investment management, investment advice and fiduciary services, in addition to global investment funds.
‘We are incredibly proud to be part of the Guernsey community,’ said Peregrine managing director Hennie Esterhuizen.
‘It remains our jurisdiction of choice for structuring collective investment schemes which offer global market access to our private clients.’
Reflecting on the reasons for setting up the business in Guernsey two and a half decades ago, Mr Esterhuizen said the openness and business-friendly approach of the island’s financial services regulator, the Guernsey Financial Services Commission, coupled with the ‘excellent’ investment protection on offer, were two of the major reasons for its success.
‘We were in constant dialogue with the regulator, it was – and still is – a very business-friendly environment here in Guernsey and we were able to build a relationship based on trust and openness.
‘Our clients who were sending money away from South Africa wanted assurance their money would be safe, and the ease with which we were able to do business here gave us so much confidence.’
That confidence has translated into a greatly-expanded fund range over the years, with 15 Guernsey-domiciled funds now set up.
Assets under management in the funds now exceed £2bn.
Director Adrian Starr said the group’s investment management business had ‘thrived’ in recent years, while its client base had grown organically through word-of-mouth recommendations.
In terms of future plans, Mr Esterhuizen said the group was looking at growing its wealth management business and another fund will be launched shortly.
With Peregrine also establishing a community presence in the island through its sponsorship of the La Vallette Bathing Pools project and Havelet Regatta, Mr Esterhuizen said this demonstrated the group’s local commitment.
‘We are here for the long-term, and our 25-year presence proves that – we have no plans to move,’ he said.
‘Guernsey has given us so much, we want to give back.’
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