Offshore

Well it is that time of year again and it was tempting to see if I could write a piece that made no reference whatsoever to the festive season! But my plans have been spoiled in the last couple of weeks by an early Christmas present or two.

Almost half of the £170bn funds under administration in Jersey relate to specialist funds, according to recent findings.

Funds under management and administration in Guernsey rose by 5% in the last quarter to reach a new high.

The villain in the latest James Bond film, Casino Royale, is a private banker. This will not come as a surprise to many IFAs who view private bankers as one of their natural competitors.

The Way Group has launched an offshore bond which is designed to provide a different approach to risk profiling.

Jersey Financial Services Commission has issued a consultation paper on proposals to streamline the authorisation process of close-ended funds.

Equity Trust is to acquire Ernst & Young's Luxembourg domiciliation business and related corporate secretarial services.

The Isle of Man Companies Act 2006, also known as the New Manx Vehicle, has now become law after receiving Royal Assent.

Investec Private Bank has launched a financing service for British expatriates who are resident in Spain and seeking property development projects in the UK.

For many offshore insurers, this is the best of times as offshore single premium sales in the UK are expected to exceed £6bn in 2006.