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The Channel Islands have a long association with the Investment Management industry. In the 1980s the industry revolved around traditional long equity and bond funds. In more recent years, challenged by the growing appeal of European Union (EU)-based territories as locations for fund assets, Jersey and Guernsey have built highly competitive offerings to meet the emerging needs of a rapidly evolving alternative investment industry.
The industry as a whole has grown to an estimated US$346.5 billion and US$396.6 billion of fund assets serviced as at 30 June 2017 in Guernsey and Jersey respectively. To achieve this level of growth, the Channel Islands have built a reputation for high quality knowledge and expertise in the alternative investment market and the islands have become alternative investment centres of excellence. The Jersey and Guernsey investment management industry bodies and regulators work closely together to create legislative frameworks that enable the promoters of offshore structures to meet the evolving needs and demands of investors in a timely manner.
The PwC Channel Islands firm has a team of over 400 staff providing assurance, tax, and advisory services. In both Jersey and Guernsey, PwC continues to retain the leading position as the largest auditor of Jersey/Guernsey serviced funds in 2020, with 34% market share of funds in Jersey and 35% in Guernsey.
We deliver an unrivalled level of expertise in tax planning, regulatory and structuring issues associated with the formation, administration and operation of alternative funds. Combining local industry knowledge, strength of long established relationships with the major participants in the marketplace, with the expertise of professionals across our global network of firms enables us to deliver the exact combination of experience and expertise our clients require.