Guernsey: Guernsey Funds Forum 2013 Identifies Future Industry Landscape
Last Updated: 13 May 2013

The future landscape of the investment funds industry will be affected by 'external factors' just as much as regulation, according to an exit poll of the 400-plus delegates attending last week's Guernsey Funds Forum 2013 held in London.

The half-day conference and exhibition, titled 'Back to the Future', included two panel sessions - one on investor relationships and another on the effects of regulation - and a keynote debate featuring industry experts Nigel Vooght, PwC's Global Financial Services Leader and head of its future-focused initiative ' Project Blue'; and Better Capital Founder and Chairman Jon Moulton. The event was moderated for the fourth consecutive year by Senior ITV News Anchor, Alastair Stewart.

Using interactive voting for the first time, the Forum opened by asking delegates whether they thought the future of the investment funds landscape would be impacted more by investor influence, regulation or external factors, such as new technology, demographics, social change, the rise of state-directed capitalism and mounting pressure on the world's natural resources.

The greatest proportion of delegates chose regulation, with external factors in second, closely followed by investor influence. However, after several hours of debate, the post-event exit poll revealed that while there had been an increased proportion of delegates believing regulation would be the most significant factor impacting the future landscape of the investment funds industry, this was now matched by those voting for external factors, with investor influence a distant third.  

Fiona Le Poidevin, Chief Executive of Guernsey Finance - the promotional agency for the Island's finance industry, said: "When we are pre-occupied with the demands of the day job, it is sometimes too easy to lose sight of the big picture. The Forum was about encouraging members of the asset management industry to take a critical look at their long-term strategies whilst remembering that these are heavily influenced not just by the immediate impacts of current regulation or changing investor demands but also that they will need to be flexible enough to cope with the changing external landscape. Macro factors such as new technology, demographics, social change and the war for natural resources will also impact the global funds industry in a significant way in the years to come and we need to be ready for that."

Eric Warner, Partner and Head of Investor Relations at Altius Associates; Darren Winder, Head of Economics and Strategy at Oriel Securities; John Daghlian, Partner at O'Melveny & Myers; and Adam Turtle, Partner at Rede Partners, made up the first panel session, 'Investor relations and influence'.

The event's second panel debate, 'Regulation - the bigger picture', comprised Tim Hames, Director General at the British Private Equity & Venture Capital Association (BVCA); Carl Rosumek, Director of Investment Business at the Guernsey Financial Services Commission (GFSC); Nigel Farr, Partner at Herbert Smith Freehills; and Brian Forrester, Partner in the Investment Management and Private Equity Group of Deloitte's London office.

Among the delegates was Stephen Foster, Chief Operating Officer for Alternative Investments UK at Credit Suisse Asset Management, and Sandford Henry, Director of Asset Solutions.  Mr Foster said the event had been interesting and informative.

"It's a great format and having Alastair Stewart there as a professional moderator really takes it a step above a lot of the conferences. He is well informed on the topics and brings out the best in the speakers. One of the things that struck me was a reminder that Guernsey is very flexible in terms of embracing new ideas, new regulation and has been very proactive in terms of AIFMD and what they propose to do in terms of this dual regime, whether you want to be in the AIFMD or outside," said Mr Foster.

Mr Henry commented: "I think this is a huge opportunity for Guernsey. All these regulations that are coming in from Brussels are reprehensible in the sense of the cost they are going to pass on to the fund managers. The costs that are going to be passed on to the fund managers are going to be huge and they are going to keep coming. I am worried about it but Guernsey opens a huge opportunity and couldn't be better represented than by John Moulton who really understands the investment business."

Victoria Younghusband, Partner at SJ Berwin LLP, was also impressed with the event.

She said: "I came here because my firm uses Guernsey quite frequently as a jurisdiction for establishing funds and it's always good to meet with people from Guernsey and hear the latest from Guernsey regulators and other service providers. It was very interesting looking forward 10 and 20 years in the light of the tsunami of regulation that is coming forth today and discussing the challenges of AIFMD."

As well as the conference, there was also an exhibition of Guernsey service providers, including the Island's leading fund administrators, custodians, multi-jurisdictional legal practices and global accountancy firms.

Miss Le Poidevin added: "We have been incredibly pleased with the turnout and feedback already received about the event. Having such an experienced moderator as Alastair Stewart meant that he was able to get straight to the important issues and he really embraced the theme of the day."

Hosted by Guernsey Finance in conjunction with the Guernsey Investment Fund Association (GIFA) the Guernsey Funds Forum 2013, was supported this year by the BVCA, Global Custodian, HFM Week, Limited Partner Magazine and unquote".

To print this article, all you need is to be registered on

Click to Login as an existing user or Register so you can print this article.

In association with
Press Releases from this Firm
Recent Content from this Firm
By Dominic Wheatley
By Andy Sloan
By Kate Clouston
By Amit Taylor, Mel Torode
By Alex Burne
By Fiona Le Poidevin
By Craig Cordle
By Michael Betley
By Simon Thornton
By Andy Sloan
Font Size:
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).
Email Address
Company Name
Confirm Password
Mondaq Topics -- Select your Interests
 Law Performance
 Law Practice
 Media & IT
 Real Estate
 Wealth Mgt
Asia Pacific
European Union
Latin America
Middle East
United States
Worldwide Updates
Registration (you must scroll down to set your data preferences)

Mondaq Ltd requires you to register and provide information that personally identifies you, including your content preferences, for three primary purposes (full details of Mondaq’s use of your personal data can be found in our Privacy and Cookies Notice):

  • To allow you to personalize the Mondaq websites you are visiting to show content ("Content") relevant to your interests.
  • To enable features such as password reminder, news alerts, email a colleague, and linking from Mondaq (and its affiliate sites) to your website.
  • To produce demographic feedback for our content providers ("Contributors") who contribute Content for free for your use.

Mondaq hopes that our registered users will support us in maintaining our free to view business model by consenting to our use of your personal data as described below.

Mondaq has a "free to view" business model. Our services are paid for by Contributors in exchange for Mondaq providing them with access to information about who accesses their content. Once personal data is transferred to our Contributors they become a data controller of this personal data. They use it to measure the response that their articles are receiving, as a form of market research. They may also use it to provide Mondaq users with information about their products and services.

Details of each Contributor to which your personal data will be transferred is clearly stated within the Content that you access. For full details of how this Contributor will use your personal data, you should review the Contributor’s own Privacy Notice.

Please indicate your preference below:

Yes, I am happy to support Mondaq in maintaining its free to view business model by agreeing to allow Mondaq to share my personal data with Contributors whose Content I access
No, I do not want Mondaq to share my personal data with Contributors

Also please let us know whether you are happy to receive communications promoting products and services offered by Mondaq:

Yes, I am happy to received promotional communications from Mondaq
No, please do not send me promotional communications from Mondaq
Terms & Conditions (the Website) is owned and managed by Mondaq Ltd (Mondaq). Mondaq grants you a non-exclusive, revocable licence to access the Website and associated services, such as the Mondaq News Alerts (Services), subject to and in consideration of your compliance with the following terms and conditions of use (Terms). Your use of the Website and/or Services constitutes your agreement to the Terms. Mondaq may terminate your use of the Website and Services if you are in breach of these Terms or if Mondaq decides to terminate the licence granted hereunder for any reason whatsoever.

Use of

To Use you must be: eighteen (18) years old or over; legally capable of entering into binding contracts; and not in any way prohibited by the applicable law to enter into these Terms in the jurisdiction which you are currently located.

You may use the Website as an unregistered user, however, you are required to register as a user if you wish to read the full text of the Content or to receive the Services.

You may not modify, publish, transmit, transfer or sell, reproduce, create derivative works from, distribute, perform, link, display, or in any way exploit any of the Content, in whole or in part, except as expressly permitted in these Terms or with the prior written consent of Mondaq. You may not use electronic or other means to extract details or information from the Content. Nor shall you extract information about users or Contributors in order to offer them any services or products.

In your use of the Website and/or Services you shall: comply with all applicable laws, regulations, directives and legislations which apply to your Use of the Website and/or Services in whatever country you are physically located including without limitation any and all consumer law, export control laws and regulations; provide to us true, correct and accurate information and promptly inform us in the event that any information that you have provided to us changes or becomes inaccurate; notify Mondaq immediately of any circumstances where you have reason to believe that any Intellectual Property Rights or any other rights of any third party may have been infringed; co-operate with reasonable security or other checks or requests for information made by Mondaq from time to time; and at all times be fully liable for the breach of any of these Terms by a third party using your login details to access the Website and/or Services

however, you shall not: do anything likely to impair, interfere with or damage or cause harm or distress to any persons, or the network; do anything that will infringe any Intellectual Property Rights or other rights of Mondaq or any third party; or use the Website, Services and/or Content otherwise than in accordance with these Terms; use any trade marks or service marks of Mondaq or the Contributors, or do anything which may be seen to take unfair advantage of the reputation and goodwill of Mondaq or the Contributors, or the Website, Services and/or Content.

Mondaq reserves the right, in its sole discretion, to take any action that it deems necessary and appropriate in the event it considers that there is a breach or threatened breach of the Terms.

Mondaq’s Rights and Obligations

Unless otherwise expressly set out to the contrary, nothing in these Terms shall serve to transfer from Mondaq to you, any Intellectual Property Rights owned by and/or licensed to Mondaq and all rights, title and interest in and to such Intellectual Property Rights will remain exclusively with Mondaq and/or its licensors.

Mondaq shall use its reasonable endeavours to make the Website and Services available to you at all times, but we cannot guarantee an uninterrupted and fault free service.

Mondaq reserves the right to make changes to the services and/or the Website or part thereof, from time to time, and we may add, remove, modify and/or vary any elements of features and functionalities of the Website or the services.

Mondaq also reserves the right from time to time to monitor your Use of the Website and/or services.


The Content is general information only. It is not intended to constitute legal advice or seek to be the complete and comprehensive statement of the law, nor is it intended to address your specific requirements or provide advice on which reliance should be placed. Mondaq and/or its Contributors and other suppliers make no representations about the suitability of the information contained in the Content for any purpose. All Content provided "as is" without warranty of any kind. Mondaq and/or its Contributors and other suppliers hereby exclude and disclaim all representations, warranties or guarantees with regard to the Content, including all implied warranties and conditions of merchantability, fitness for a particular purpose, title and non-infringement. To the maximum extent permitted by law, Mondaq expressly excludes all representations, warranties, obligations, and liabilities arising out of or in connection with all Content. In no event shall Mondaq and/or its respective suppliers be liable for any special, indirect or consequential damages or any damages whatsoever resulting from loss of use, data or profits, whether in an action of contract, negligence or other tortious action, arising out of or in connection with the use of the Content or performance of Mondaq’s Services.


Mondaq may alter or amend these Terms by amending them on the Website. By continuing to Use the Services and/or the Website after such amendment, you will be deemed to have accepted any amendment to these Terms.

These Terms shall be governed by and construed in accordance with the laws of England and Wales and you irrevocably submit to the exclusive jurisdiction of the courts of England and Wales to settle any dispute which may arise out of or in connection with these Terms. If you live outside the United Kingdom, English law shall apply only to the extent that English law shall not deprive you of any legal protection accorded in accordance with the law of the place where you are habitually resident ("Local Law"). In the event English law deprives you of any legal protection which is accorded to you under Local Law, then these terms shall be governed by Local Law and any dispute or claim arising out of or in connection with these Terms shall be subject to the non-exclusive jurisdiction of the courts where you are habitually resident.

You may print and keep a copy of these Terms, which form the entire agreement between you and Mondaq and supersede any other communications or advertising in respect of the Service and/or the Website.

No delay in exercising or non-exercise by you and/or Mondaq of any of its rights under or in connection with these Terms shall operate as a waiver or release of each of your or Mondaq’s right. Rather, any such waiver or release must be specifically granted in writing signed by the party granting it.

If any part of these Terms is held unenforceable, that part shall be enforced to the maximum extent permissible so as to give effect to the intent of the parties, and the Terms shall continue in full force and effect.

Mondaq shall not incur any liability to you on account of any loss or damage resulting from any delay or failure to perform all or any part of these Terms if such delay or failure is caused, in whole or in part, by events, occurrences, or causes beyond the control of Mondaq. Such events, occurrences or causes will include, without limitation, acts of God, strikes, lockouts, server and network failure, riots, acts of war, earthquakes, fire and explosions.

By clicking Register you state you have read and agree to our Terms and Conditions