Guernsey and Jersey are working hard to develop the hedge fund industry in the Channel Islands. Uncertainty over how the European Union will treat third countries causing some concern.

GUERNSEY

Overview Guernsey is making its funds industry as attractive as possible and looking to draw in new business. While the funds industry has not escaped the difficulties of the past two years, both from an industry and a macro perspective, it believes business is coming back to the jurisdiction.

Fund administration Guernsey’s reputation as a fund administration centre is the foundation for future prosperity. The industry in Guernsey has grown and prospered as a result of regulation requiring a Guernsey fund to have a local administrator.

Legal services Guernsey’s legal industry is reaching beyond the island’s borders for work. Law firms report continued strong activity with other work keeping them busy.

Accounting and auditing Guernsey’s auditing community is seeing new enquiries as the funds industry begins to return to normality after market turmoil.

What they say about Guernsey Service providers and industry participants give their views on why Guernsey is flourishing as a hedge fund service centre.

JERSEY

Overview Uncertainty over legal changes emanating from the EU is causing concern and despite the many hurdles facing the island, most are optimistic about the future.

Fund administration With the sale of Mourant’s fund administration business to State Street, Jersey’s position as a provider of hedge fund services has taken a leap forward.

Legal services As investment begins to flow back into hedge funds, Jersey believes it is well positioned to attract start-up managers as well as anyone looking to relocate from London. There is also quiet optimism about prospects for the industry.

What they say about Jersey Service providers and industry participants give their views on why Jersey is flourishing as a hedge fund service centre.