Delegates at the Guernsey Funds Forum have reacted favourably to the island’s new Manager-Led Products (MLP) launch.
The event was hosted by ITV News anchor Alistair Stewart, with a keynote speech by Luke Johnson, chairman of private equity house Risk Capital Partners and former chairman of Channel 4.
As was revealed here, in advance of the event, by Guernsey Finance chief executive Dominic Wheatley, 500 attendees were told of the immediate launch of a new fund classification to the island in the shape of the new MLPs.
In this video (see below) delegates at the event were interviewed on their initial thoughts about what the new manager-led funds will bring to the region.
The video also has a short interview with Emma Bailey, director of investment supervision and policy at Guernsey Financial Services Commission, who was on hand to answer any questions that delegates had on the new launch.
Wheatley said the annual showcase, was the “perfect setting” to announce the immediate launch of the MLP.
He said the launch aims to ensure a proportionate risk-based level of product regulation for any Alternative Investment Fund Manager (AIFM) that establishes itself in Guernsey and seeks to market into Europe under the National Private Placement Regime arrangements.
“We see the MLP as offering a very attractive vehicle for managers needing substance in the Island, an area in which we expect to grow,” said Wheatley.
“Once an AIFMD has been licensed by the Guernsey Financial Services Commission, they will then be able to launch new partnership structures and corporate funds by simple notification.
“Capital will be concentrated at the AIFM level. This will facilitate the quick and efficient launch of new funds with a minimum requirement for red tape but with no diminution of the quality of regulatory oversight.”
In addition to Johnson’s keynote speech, the event included two panel sessions. The first looked at innovation in the funds arena and the second focussed on investor perspectives.
Speakers were Kate Simpson from Proskauer, Tim Hughes from PwC, Robin Klein from Localglobe, Blaise Duault from PAI Partners, Bernard Vogel from Endeavour Vision, Phillip Hyett from Funding Circle, Adam Black from Coller Capital, Aaron Stocks from Travers Smith and Duncan MacPherson from Starwood Capital Europe.