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Mark Hodgson Benedicte Gravrand, Opalesque Geneva:

For those managers who will not domicile their fund in the European Union (EU) and yet want to distribute it in the EU – especially the UK –, going under the wing of an AIFMD-compliant ManCo on the Channel Islands could be one of the ways to do it.

Channel Islands The Channel Islands are not part of the UK or the EU, but rather are possessions of the British Crown with independent administrations. Their economy is dominated by financial services, tourism, electronic commerce and agriculture. The relatively light tax burden has encouraged a booming offshore finance sector.

Jersey is on the white list of the G20 offshore jurisdictions, and at the end of June 2014, the island was reported to have £200bn (US $309bn) of assets under management, 1,283 regulated funds and 202 unregulated funds. AuM rose to £228.9bn in December. Guernsey was also on the first OECD exchange of tax information’s white list. The net asset value of ......................

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