Collas Crill has assisted investment manager Peregrine Guernsey with the migration from Bermuda of the CAM Bastion master-feeder collective investment scheme.
The $155 million scheme, which migrated on 31 December, comprises a master fund, which operates as a fund-of-hedge-funds, and four feeder funds offering US dollar and South African rand hedged share classes. The CAM Bastion scheme was, until the migration, registered and regulated as a collection of 'standard' funds in Bermuda.
On migration, the funds were authorised by the Guernsey Financial Services Commission as Class B open-ended collective investment schemes.
Collas Crill worked with the GFSC, Peregrine Guernsey and Bermudian counsel to ensure a smooth transition from Bermuda into Guernsey and simultaneous approval of the funds' regulated status with the GFSC.
The Collas Crill team, led by Senior Associate Gareth Morgan, included Group Partner Paul Wilkes and Associate Annabel Bishop.