Guernsey lawyers have advised Gottex Fund Management SARL on the London Stock Exchange listing of the first fund to take advantage of the Guernsey registered closed-ended investment fund regime which was introduced earlier this year.
Ogier advocate Roger Le Tissier and senior associate Andy Lowe made use of the new regime’s fast track procedure whereby consent may be obtained from the Guernsey Financial Services Commission (GFSC) within three days of filing the required documents. The listing of Gottex Market Neutral Trust Limited will comprise a placing and offer of shares which closed on 23 March, having raised £45m. The principal feature of the new regime that allows the registration to occur so rapidly is that the onus to fulfil the due diligence function, normally undertaken by GFSC is instead placed on the adm...
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