The Monterey Insight Fund Survey 2013 on the Guernsey funds market has once again clearly positioned Carey Olsen as the number one legal adviser to the Guernsey investment funds sector and, when combined with the same survey on the Jersey funds market, Carey Olsen also advises the largest number of funds domiciled in the Channel Islands. The guide positions Carey Olsen in Guernsey in first place for advising on the largest total number of funds and assets under management. The offshore law firm holds 53.9% of the Guernsey market, by number of funds, having advised 726 domiciled and non-domiciled funds during the 12 month period under review. The annual guide provides a comprehensive analysis of the performance of all funds serviced in Guernsey and regulated by the Guernsey Financial Services Commission and includes open-ended, closed-ended, qualifying investor schemes as well as non-domiciled schemes that are serviced in Guernsey. The report offers an insight into the primary service providers who are ranked by the number of funds they advise and by total assets under management. Carey Olsen maintained its leading position advising 698 of the Guernsey-domiciled funds representing 57.26% of the total market in this area - an increase of over 4% during the past year and 34% more than its closest competitor. Across Guernsey and Jersey Carey Olsen advises the highest number of domiciled schemes of any law firm with offices in the Channel Islands acting for 901 domiciled funds across the board. The firm also advises a third of funds overall across the two islands. Senior partner, Graham Hall (pictured), said: "In Guernsey we have retained our market-leading position. In Jersey, where we have held our position, we have significant pipeline activity which bodes extremely well for growth in 2014 and the burgeoning funds area of expertise in the island. With offices now thriving in the British Virgin Islands and the Cayman Islands, Carey Olsen's expertise in the funds sector is seeing significant growth in the offshore markets.” Managing Director of Monterey Insight, Karine Pacary, said: "The 19th edition of the Guernsey Fund Survey has shown private equity funds continue to dominate the fund landscape in Guernsey in 2013 accounting for over 60% of total assets. "Since 2010 each year has had a steady increase in assets in Guernsey with 2013s total progressing beyond the previous high of 2008. Its ability to adapt to increasing regulation, such as the AIFMD introduction, provides evidence of its on-going attractiveness as a fund investment centre."
It's easy to stay current with blglobal.co.uk. Just sign up for our email updates!
Yes please! No thanks!