The two new classes of ‘expert’ investment fund – eligible investor funds and exchange traded funds – are unregulated in the sense that they can be set up without the regulatory approval required for more conventional types of funds.
There is no limit on the number of investors, no investment or borrowing restrictions and no audit requirements or requirements for Jersey services providers.
The first two funds in the new regime, both exchange traded funds, were established last month by Mourant du Feu & Jeune as part of a Jersey protected cell company structure. Both funds are sponsored by an investment bank and administered in Jersey by Mourant. The shares have been listed on the Channel Islands Stock Exchange.
Picture: Mourant partner Jonathan Rigby
