A new film fund launched by a local investment manager is
believed to be the first investment fund established in Guernsey to
specifically invest in film production, marketing and
Confiance Fund Services Limited has worked closely with UK-based
investment adviser High Fliers Film plc and local law firm AO Hall
as legal adviser to launch Confiance Film Products PCC Limited
which will invest in both big budget and small budget movies.
"Financing films is always a delicate balance between the
various parties involved in making the film and bringing it
successfully to its target audience. You need to work with people
who understand the film industry and have the relevant
experience," said Richard Garrod, director of Confiance Fund
High Fliers plc already has a proud reputation in the film
distribution market in the UK, with over 20 years of experience and
a catalogue of films starring Richard Gere, Forest Whitaker, Samuel
L. Jackson, Carey Mulligan, Tim Robbins, Susan Sarandon, Pierce
Brosnan, Robert Carlyle, Claire Danes and Tommy Lee Jones.
Ian Hunt, Managing Director of Confiance Fund Services Limited,
said High Fliers experience had been combined with Confiance's
expertise to create a completely unique investment fund at a time
when the large film studios are struggling to find film
"Confiance Film Products PCC Limited was developed to fit
in with the needs of the film market. It also enables those
investors looking for a different asset class with identifiable
returns to invest into. The concept was to utilise the experience
both at Confiance and Guernsey in general to enable a broader
business development approach to encompass distribution,
production, branding and finance within the film arena," he
The first fund of the PCC aims to invest in a mix of films with
different genres and budgets, preferably with an A-list director
and an A-list lead actor or actress, to acquire the distribution
rights to those films and then distribute those films through
cinema, DVD, video-on-demand, TV and other auxiliary formats such
as the internet and airline entertainment systems.
Future funds will also invest in film production and marketing
which will give investors the ability to invest in a full range of
film financing opportunities in Guernsey. It is proposed that
future cells may also list on the Channel Islands Stock Exchange
with Newhaven Trust Company (Channel Islands) Limited acting as the
AO Hall's group partner Sam Shires and associate Stephen
Ozanne both worked closely with Confiance and High Fliers Film.
"It's always good to see Guernsey's fund expertise
being used for new asset classes, and at the same time promote the
continued flexibility and popularity of the Guernsey protected cell
company product," said Mr Shires.
"It has been very exciting to work closely with Confiance
on this project and also in bringing together some of the best
minds in the film industry to create an excellent new investment
opportunity in Guernsey."
Mr Hunt and Mr Garrod are both directors of the fund and members
of Guernsey Film LBG, a local business group that aims to promote
the wide range of film financing expertise in Guernsey.
The launch of the fund coincided with Guernsey Film's
inaugural seminar in London, which was held on 30 September 2010.
Mr Garrod, together with other notable speakers from Guernsey
Finance and the UK film industry, spoke at the seminar, which aimed
to give attendees an overview of the expertise, experience and
opportunities that Guernsey has to offer in film financing.
Probably the most significant change from previous practice in Guernsey law under the Companies (Guernsey) Law 2008, which came into effect on the 1 July 2008, was the consignment to history of the concept of capital maintenance, which was discarded in favour of a solvency model as the basis of a company’s ability to pay distributions and dividends.
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