The latest issue of Businesslife, exploring the relationship between the City of London and the Channel Islands, is now available.
The symbiotic relationship between the City and the islands only looks set to grow further amid the current volatile climate, as investors and wealth managers seek greater certainty, stability and security.
That’s the message delivered in the latest edition of Businesslife magazine, a themed issue exploring the close relationship between the financial districts of the UK and the Channel Islands.
Jon Watkins, Editor-in-Chief of Businesslife, commented: “Amid the much-talked-about raft of macroeconomic issues we face right now – from the conflict in Ukraine, to energy supply issues, rising inflation, supply chain challenges and the rising cost of living – the markets are falling and traditionally stable investments are all of a sudden volatile.
“What we’ve found through this special issue is that as wealth holders and investors seek out a period of stability, they are increasingly calling on the expertise, experience and regulatory certainty of the services on offer across the islands.”
Meeting changing demand
The 2022 City Edition of Businesslife includes a number of articles looking at just how the two jurisdictions are working together to deliver on investors’ and wealth managers’ changing needs.
In an article on the strength and stability of the islands, for example, one contributor tells us: “Investors and advisers are familiar with the islands’ expertise and have confidence in what we offer.
"The islands have unique products that provide managers with global access and flexibility, while wrapped in a strong regulatory framework that gives investors confidence.
"Unlike the UK, the islands have never been part of the EU, so they have remained unchanged over recent years and have an unbroken track record of stability.”
Another contributor tells us the islands are seeing particular interest in the Jersey Private Fund (JPF), with its attractive attributes such as 48-hour turnaround and cost-effective administration.
“This makes it a popular choice among investors and investment managers. In my opinion, this is the most successful fund product coming out of Jersey.”
Emerging trends
Meanwhile, an article exploring trends emerging as a result of the current macroeconomic instability sets out how, as sanctioned Russian oligarchs vacate London, they are rapidly being replaced by new wealth holders – from the East.
Research conducted by private wealth law firm Boodle Hatfield last year found that mainland China and Hong Kong provided the two biggest cohorts of non-domiciled high-net-worth individuals relocating to the UK in the previous 12 months, with 650 and 620 individuals respectively moving to the UK.
Our article examines the appeal for these mega-wealthy individuals, and the solutions they are looking for.
Elsewhere in this issue…
• How the City and the Channel Islands can work together to fuel greater take-up of green finance
• Progress on gender diversity at boardroom level
• How a shortage of legal experts is playing out across the City and the islands
• Trends in the takeover of fiduciary services
• Private equity’s groundbreaking growth
Click here to view our City Edition online.
The physical version of the magazine will be available from its usual distribution points shortly.