Jerseys funds industry NAV falls more than 17% in Q3; bank deposits also slip
The net asset value of funds administered in Jersey fell by 17.7% in the third quarter.
News
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Isle of Man may protest to UK on end of reciprocal health agreement, paper says
A top Isle of Man government official is seeking an “urgent meeting” with UK secretary of state for health Andrew Burnham, according to an IoM press report that says he will seek to challenge Britain’
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How the economic crisis has affected fund structuring: the challenges – and opportunities?
Tim Morgan, partner, business and trust law group at offshore legal firm Ogier, offers a detailed assessment of the changing face of the offshore funds industry in the wake of the financial crisis, gl
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Bell expected to avoid touching Zero-10
When Isle of Man treasury minister Allan Bell unveils his budget in February, in which he must deal with an unanticipated £90m income shortfall caused by the ending of a customs revenue-sharing agree
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Seven in 10 continental Britons pondering return to Blighty
A survey of expatriate Britons living in Europe found almost three-quarters (70%) are considering returning to the UK.
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Friends Provident acquires German distribution partner
Friends Provident Group, since last summer owned by Resolution, is to buy its German distribution partner.
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Guernsey bank deposits fall in third quarter
Bank deposits in Guernsey fell by 3.5% in the third quarter of 2009 and 11.8% from the same time a year earlier, the Guernsey Financial Services Commission reported, citing a significant decline in Sw
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Clydesdale Bank Intl reports growth despite Guernsey deposits fall
Clydesdale Bank International, the National Australia Bank Group division that opened a deposit-taking arm on Guernsey in April, reported “significant growth” in the third quarter of 2009, even as ban
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British ex-pats lose £2 million in sham investment scheme
Five men have been jailed after using independent financial advisers based offshore to attract investments for their fraudulent commercial property loans business, the Serious Fraud Office said today.
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Landsbanki Guernsey administrators announce third distribution
The joint administrators of the Guernsey branch of the failed Icelandic bank Landsbanki said a third distribution to creditors of between 11 and 12.5p in the pound will take place in January.
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Irish eyes smile on rival jurisdictions hedge funds
Ireland has introduced legislation aimed at encouraging hedge funds domiciled in other jurisdictions to move to Dublin, a move that was welcomed by the Irish Funds Industry Association.
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Centurion launches first-ever macro/micro longevity fund
Centurion Fund managers has obtained regulatory approval in Luxembourg for what it said is the first open-ended fund to combine macro and micro longevity life settlement exposure.