A new survey of institutional asset managers, consultants and investors confirms compliance with the Global Investment Performance Standards (GIPS) is on the rise, with 84 per cent of asset managers responding saying their firms are GIPS compliant.
Legal & Regulation
The number of alternative fund managers choosing to future-proof their EU-focused funds through Jersey continued to grow in the first six months of 2018, according to the latest figures from Jersey’s financial regulator.
By Craig Cordle – Data protection and privacy laws have been reformed across Europe by Regulation (EU) 2016/679, commonly known as the General Data Protection Regulation (GDPR) which came into force on 25 May 2018. The GDPR builds on existing legislation and seeks to harmonise and enhance data protection and privacy laws across the EU. It also introduces significant fines in respect of breaches.
By Dominic Wheatley, Guernsey Finance – Guernsey’s funds sector has developed over the past 50 years, since the first funds were formed in the island in the 1960s, and is now recognised as a leading centre of excellence for a range of alternatives. This process has been accelerated in recent years as shrinking returns from traditional investment fund strategies are making the alternatives sector more attractive to investors. Guernsey has built up and is now recognised for its expertise in alternatives, particularly private equity but also in infrastructure, Real Estate Investment Trusts, and alternative finance.
By Andrew Harding - Ahead of the World Cup The Economist ran an article entitled “What makes a country good at football?” The journal explored the various components of a successful national side, taking account of GDP, population size and the popularity of the game in each country.
By Dr Andy Sloan - Two years on from the UK’s Brexit referendum vote and with the recent publication of the UK’s White Paper, it is useful to take stock of the potential impact of Brexit on global financial services and Guernsey’s trading relationships.
By Martin Scott, International Administration Group (Guernsey) – Two years ago, almost to the day, Guernsey was set to receive the Alternative Investment Fund Managers Directive (AIFMD) passport to allow marketing of Guernsey funds across Europe. Then Brexit and politics took over, and the likelihood of the European Union extending the AIFMD passport to third countries now appears remote until the UK and EU have reached a trade agreement with respect to financial services. It therefore appears probable that National Private Placement Regimes (NPPRs) will remain in place for the foreseeable future.
By Paul Smith, Guernsey Investment Fund Association – In an era when uncertainty and the unexpected can be relied upon to spoil the best-laid plans, Guernsey is one jurisdiction able to provide a stable, secure base from which to operate, and has the infrastructure and resources to ensure the highest levels of service quality while also being able to provide businesses with true substance.
Lendy, the property platform, has received full authorisation from the UK regulator, the Financial Conduct Authority (FCA). Lendy’s secured lending model was authorised by the FCA following a detailed end-to-end assessment of its business and operating model.
Nearly two thirds (61 per cent) of real estate investors are concerned about the impact of the new regime on taxing gains made by non-resident investors on UK real estate, according to a new report commissioned by Intertrust, a provider of high-value trust, corporate and fund services.