Nicola Horlick, Chief Executive Officer, Bramdean Asset
Management, has recommended Guernsey as a funds domicile.
She has said that her firm uses the Island because of its
regulatory environment, strength in administration and
"We have just domiciled an alternatives fund in Guernsey
with a full London listing. We decided that Guernsey was most
appropriate, from a regulatory point of view, we felt there were
some good administrators there and it's easy to get
there," she said.
"Our experience in Guernsey has been very positive and I
would recommend Guernsey as a domicile. It's going to be a very
difficult period over the short term but I do believe, over a
longer period, Guernsey will do very well indeed."
Ms Horlick has worked in the fund management industry for 25
years and participated in the growth of some of the UK's
premier asset management businesses including Mercury Asset
Management (now BlackRock), Morgan Grenfell Asset Management (now
Aberdeen Asset Management) and Societe Generale Asset Management
By April 2005, as a high-flying 44-year-old mother of six, Ms
Horlick had already gained a reputation within the City as a
'superwoman' when she received national publicity after
fending off an armed robber outside her London home.
In the January of 2005 she formed Bramdean Asset Management.
Among its offerings is Bramdiva, a wealth management service which
caters specifically for women. In 2007 the Guernsey-based
investment company Bramdean Alternatives Limited was established
(with Ms Horlick as fund manager), investing in private equity,
hedge funds and specialty funds, which may include infrastructure,
natural resources and real estate funds.
Ms Horlick was the keynote speaker at the Guernsey Funds Forum
2008, 'Fundamental solutions for a changing world', which
took place yesterday at the Queen Elizabeth II Conference and
Exhibition Centre, Westminster, London.
Grant Cameron, Chairman of the Guernsey Investment Funds
Association (GIFA), told the conference: "We could not have
picked a better date for the meeting with all the action in the
markets. We are in very uncertain times – there's no
liquidity, which prevents the movement of money but in these
uncertain times there are prospects.
"The environment is going to change significantly from
where it is now. Nicola Horlick talked about appropriate regulation
and I believe that is what we will see. The point that we wanted to
make today was that Guernsey is very relevant in this environment
and I hope the audience got some idea of the calibre of people who
are available in Guernsey.
"There's a huge calibre that underpins the Guernsey
story. The rules of the game are changing but Guernsey will remain
relevant and will react. Our biggest strength is flexibility and
the ability to react to changing events. This time will be seen as
one of those events that Guernsey will react to."
As well as an exhibition comprising the leading names from
Guernsey's funds industry, the half-day event included the
sessions 'Guernsey – a growth industry' chaired
by Nigel Farr, Partner, Herbert Smith; 'Listing and
Liquidity' chaired by Tammy Menteshvili, Chief Executive,
Channel Islands Stock Exchange (CISX); and 'Private equity
– looking forward' chaired by Veronica Eng, Permira.
There were some 200 attendees, 75% of which were non-Guernsey and
including 12 specialist trade journalists.
"Both the calibre of the non-Guernsey audience and the
number of them was significantly more than the last Guernsey Funds
Forum. We made an effort to get the people here who don't know
Guernsey, in order to introduce Guernsey and I think we succeeded
there. People were genuinely interested in what the speakers and
panellists had to say," added Mr Cameron.
Tonight there is a Guernsey Private Equity Masterclass at the
Caledonian Hilton in Edinburgh where the keynote speaker is
Alastair Maclean, Partner at Maclay Murray and Spens LLP. He will
be joined by Guernsey industry experts including Tony Mancini, Tax
Director, KPMG CI and Mark Huntley, Managing Director, Heritage
International Fund Managers.
The total value of funds under management and administration in
Guernsey reached a new record high of £207bn
at the end of June 2008 – up 1.7% during the second
quarter and 33% year on year.
For more information about Guernsey's finance industry
please visit www.guernseyfinance.com.
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