A first Guernsey fund has been launched by Edinburgh-based independent investment managers Baillie Gifford.
The $477 million Schiehallion Fund has been admitted to trading on the Specialist Fund Segment of the London Stock Exchange's Main Market.
Schiehallion aims to generate capital growth through long-term minority investments in later-stage private businesses that it considers to have transformational growth potential and the potential to become publicly traded.
"We continue to see interest in the use of Guernsey vehicles for listing on the London markets, as the jurisdiction's strategy of leading the way in the quality of professional services and regulation offshore – as endorsed by the EU Council's 'white-listing' decision earlier this month – clearly hits all the right notes for international regulators and the wider financial services industry," said Mr Cordle.
Ashley Paxton, Head of Advisory at KPMG in the Channel Islands, said the new fund "underlines the important role Guernsey plays in helping to support the Specialist Fund Segment of the London Stock Exchange".
Guernsey is home to more non-UK entities listed on the London Stock Exchange than any other jurisdiction.
Ogier was also named Regional/Offshore Law Firm of the Year at the Legal Business Awards in London.
Ogier Partner Craig Cordle
For more information about Guernsey's finance industry please visit www.weareguernsey.com.
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