The impact of Brexit on fundraising and demonstrating substance in the context of BEPS and AIFMD are expected to be leading themes at the Ogier-sponsored Guernsey Funds Forum 2017 in London next week.
Investment funds partners Bryon Rees and Craig Cordle are attending the We Are Guernsey event, which expected to draw around 500 professionals from the alternative investment funds sector.
The event comes at a time when Guernsey's popularity for investment funds work is growing – the sector has continued to build on consistent growth, with an increase to the net asset value of funds under administration as at the end of December 2016 to £255.9 billion. This equates to a 12.5% increase to total net asset values in the twelve months to the end of December 2016.
Bryon said: "We have seen significant and demonstrable growth up until the end of 2016, and a noticeable increase in interest for the establishment of new vehicles since the start of the year. This is partly down to the certainty of Guernsey's offering as an established 'third country' in contrast to the ongoing uncertainty created by Brexit.
"In addition, we are finding that the industry remains comfortable with the familiar NPPR regime while we await the final delivery of the AIFMD passport, which was given the green light almost a year ago.
"It is particularly interesting to see that there is a rise in work being carried out here in Guernsey even where funds are not domiciled in the Island – the clear driver is the quality of service providers here, coupled with the downward pressure on fees within the industry, which means that Guernsey is well-positioned compared to other financial services centres."
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