THE Guernsey Promotional Agency and the Guernsey Fund Managers’ Association are showcasing the innovation and professional excellence of the jurisdiction’s fund sector. As part of the promotional push, the agency has published a guide of fund services in Guernsey, launched to journalists at a briefing in London.

Speakers at the event included GPA chief executive John Bridle; Mike de Haaff, vice-chairman of the association; and Stephen Jones, a director of the agency.

The guide highlights the various types of investment schemes available in Guernsey, including open- and closed-ended funds, protected-cell companies and limited partnerships.

It details the benefits of conducting fund business in Guernsey and explains the roles of the Channel Islands Stock Exchange and the Guernsey Financial Services Commission.

The investment division of the commission recently issued guidance notes on its flexible authorisation policy towards hedge funds, as well as guidance notes to assist the sponsors of closed-ended investment funds.

For established promoters, a fast-track application process has been set up and the commission has regularly achieved a response time of 72 hours or less.

‘It is pleasing to see Guernsey’s attractiveness as a jurisdiction of excellence in which to domicile all types of investment funds continues to grow,’ said Guernsey Fund Managers’ Association chairman John Le Prevost, who welcomed the new brochure.

‘This growth stems partly from the depth of experience and knowledge now inherent in the fund sector workforce, which has been delivering a wide range of services to investment funds for over 30 years and doing so at a competitive price.

‘When one couples such professionalism with the island regulator’s willingness to listen to new, and sometimes innovative, ideas, and then if acceptable, acts swiftly to allow these ideas to happen, you have a recipe for success.

‘The commission’s recent announcement on the new approach to hedge fund authorisation is a classic example of industry and regulator working in harmony while maintaining international standards of probity and quality.’

Last year, more than 30 institutions chose the island as the domicile for their new funds.

GPA chief executive John Bridle said: ‘Guernsey’s fund sector is mature, vibrant and innovative, which is borne out by the record level of funds under management – more than £55bn – and its component players have attracted very many discerning investors, promoters, managers and administrators.

‘This guide showcases the expertise available and provides a tool for the use of both the agency and individual financial institutions within the fund sector.’