Collas Crill has advised Freedom Select Funds (FSF) in converting it to Guernsey's new Private Investment Fund (PIF) regime.
FSF is managed by Freedom Asset Management Limited (FAML) and was established as a registered closed-ended fund in 2016.
The Collas Crill team, including Group Partner Paul Wilkes and Associate Alex Wickens, played a key role in the conversion as lead Counsel to FAML.
Paul said: "The launch of the PIF regime last November provided an opportunity to take advantage of a more flexible, cost-effective fund regime.
"Using the PIF for FSF made sense as, by its intended nature, FSF was not likely to exceed the investor or subscription limits set out in the PIF rules. Most important, FAML, as manager, has the close relationships with its investors that the GFSC identified as a cornerstone characteristic of a PIF."