Bringing you live news and features since 2006 

New PIF rules further enhance Guernsey’s funds offering

RELATED TOPICS​

The decision to amend the rules surrounding Guernsey’s Private Investment Fund (PIF) options is aimed at enabling more investors to take advantage of the structure, increasing the attractiveness of Guernsey as a jurisdiction of choice.

The sector regulator, the Guernsey Financial Services Commission, published a consultation paper last year proposing to amend the rules and after receiving feedback, took the decision to amend the rules which are effective immediately.

The current approach to registering a PIF will not change, however the revised rules will provide new routes to enable a PIF to be created without an attached Protection of Investors Law licensed manager. 

In order to use the second path, all investors will need to meet criteria aimed at protecting more vulnerable investors.

A third path will enable a PIF to be created as a bespoke private wealth structure requiring a family relationship between investors. 

Christopher Jehan, chairman of the Guernsey Investment Funds Association (GIFA), says: “We are pleased to see that the Commission has enabled multiple routes towards achieving the same goal. 

“The PIF has already proven to be a popular product in the Guernsey fund suite and the increased flexibility can only help to increase the appeal of the product. Over the past year we have seen increasing interest in Guernsey as a fund domicile and the PIF is a key tool in our toolbox.”

Guernsey Finance Chief Executive Rupert Pleasant says the decision is another demonstration of Guernsey’s pragmatic approach which recognised the needs of the local fund industry and its clients to respond flexibly to their clients’ needs. 

“This is a fantastic development for the local fund sector and will ensure that the excellent flow of funds business continues well into the future,” he says.
 

Latest News

Amundi’s ETF Market Flows Analysis for May finds that global ETF inflows were EUR105.1 billion with US-domiciled equity funds accounting..
MerQube has announced the appointment of Dave Mueller as Chief Financial Officer. Mueller brings 17 years experience operating in corporate..
Northern Trust Asset Management (NTAM), has announced that David Abner is joining as Head of Global ETFs and Funds...
Nvidia’s market cap surge to more than USD3 trillion making it the second most valuable company in the world almost..

Related Articles

CN Tower, Toronto
The winners were announced in the second ETF Express Canadian awards at the event held at The Quay in Toronto,...
Darren Johnson, Komainu
Custody specialist, Komainu, was launched in 2018 as a joint venture between Nomura, digital-asset investment manager, CoinShares and blockchain business,...
Stuart Chaussee
In January this year, global data and business intelligence platform, Statista reported that there are now more than 8000 ETFs...
Ethereum coin
Last week saw Australia launch spot bitcoin ETFs, with Matteo Greco, Research Analyst at Fineqia International, writing that Monochrome Asset...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by