Funds under management and administration in Guernsey have reached a new high of more than £140bn, following the introduction of a registered regime for closed-ended investment schemes.
The registered closed-ended investment funds regime has been in operation since 1 February and eight such funds received consent in the two months to the 31 March, with a further 10 following suit so far in the period since. The regime shifts the burden of responsibility for reviewing the promoter and the investment manager and the prospectus or admission document from the GFSC to the proposed Guernsey licensed fund administrator
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