Latest News from Guernsey Finance

Guernsey lawyer leads Mourant Ozannes’ move into Asia

GFAdmin2 — Tue, 31 Jan 2012 13:48:43 +0000

Mourant Ozannes has opened an office in Hong Kong to provide clients and intermediaries with access to the firm's offshore legal services in an Asian time zone.

The office opening has been timed to coincide with celebrations for Chinese New Year, giving Mourant Ozannes' Asian office an auspicious start date in 2012 - the Year of the Dragon.

Guernsey Finance welcomes local response to HMRC ‘QROPS’ proposals

GFAdmin2 — Tue, 31 Jan 2012 10:53:38 +0000

Guernsey Finance has welcomed the approach being taken by the Island’s government and service providers in response to proposals from Her Majesty’s Revenue and Customs (HMRC) which could have significant implications for the future of Qualifying Recognised Overseas Pension Schemes (QROPS).

BlueCrest launches Guernsey/LSE-listed feeder fund

GFAdmin2 — Mon, 30 Jan 2012 13:08:47 +0000

BlueCrest Capital is to list a feeder fund for its BlueTrend strategy, a systematic fund that trades across 150 global markets, on the London Stock Exchange (LSE) this March.

Its initial public offering will provide access to the private $13.6bn BlueTrend strategy via a newly-established Guernsey incorporated closed-ended fund.

Alcentra launches Guernsey fund listed on LSE

GFAdmin2 — Mon, 30 Jan 2012 09:13:24 +0000

Alcentra Limited, one of Europe’s largest and longest established credit managers, which is majority owned by BNY Mellon (95 per cent stock holding), is launching a new leveraged loan and high yield bond fund.

Guernsey fund creates a first for the LSE

GFAdmin2 — Fri, 27 Jan 2012 11:48:48 +0000

Guernsey service providers Carey Olsen and Heritage International Fund Managers Limited (HIFM) have acted for Better Capital Limited on its innovative conversion into a Protected Cell Company (PCC).

Better Capital is an existing Guernsey closed-ended fund listed on the London Stock Exchange (LSE). The conversion to a PCC sees the interests of the existing listed fund forming the 2009 cell and the launch of its second cell, the 2012 cell.

Guernsey-based audit specialist joins forces with BDO LLP

GFAdmin2 — Fri, 27 Jan 2012 09:00:49 +0000

BDO Limited, an audit and accountancy firm based in St Peter Port in Guernsey, has joined forces with BDO LLP, the sixth largest accountancy and business advisory firm in the UK.

LSE data: Guernsey remains the leader in non-UK listings

GFAdmin2 — Wed, 25 Jan 2012 10:24:02 +0000

Guernsey remains home to more non-UK entities listed on the London Stock Exchange (LSE) than any other jurisdiction globally, according to figures from the market authority.

LSE data shows that at the end of December 2011 there were 108 Guernsey-incorporated entities listed on either the Main Market, the Alternative Investment Market (AIM), the Specialist Fund Market (SFM) or as ‘Trading Only’.

Guernsey sees 50%+ rise in insurance licenses issued

GFAdmin2 — Tue, 17 Jan 2012 12:04:05 +0000

The number of insurance licenses issued in Guernsey last year rose more than 50% compared to the previous 12 months.

Figures show that the Guernsey Financial Services Commission (GFSC) licensed 72 international insurers during 2011, which is a 53% increase from the 47 approved during 2010.

This has helped push the net number of international insurance entities licensed in Guernsey up by 12, from 675 at the end of 2010 to 687 at the close of 2011.

CISX reports significant increase in listings during 2011

GFAdmin2 — Fri, 13 Jan 2012 08:42:48 +0000

The Channel Islands Stock Exchange (CISX) admitted nearly 498 new securities to its Official List in 2011, a 40% increase on the number listed the previous year.

The predominant type of security listed in 2011 was specialist debt and within that category, Special Purpose Vehicles (SPVs) represented 58% of securities listed. The total number of securities admitted to the Official List as at the end of December stood at 4,333.

JLT Guernsey to play key role in new UK 95% mortgage scheme

GFAdmin2 — Mon, 09 Jan 2012 08:42:49 +0000

The Guernsey office of the Jardine Lloyd Thompson Group plc (JLT) is to play a key role in a new mortgage indemnity insurance scheme being introduced in the UK.