The hedge fund centre on the move - Incisive Media

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british virgin islands report
Contents
S4-S5 I spy with my little eye reasons to choose the BVI
<strong>The</strong> British Virgin Islands’ expert <strong>hedge</strong> <strong>fund</strong> practitioners explain how the BVI stands above competing
jurisdictions when it comes to domiciling <strong>hedge</strong> <strong>fund</strong>s.While in the past, speed to market may have been
top of the list, Phyllis Feinberg discovers a jurisdiction focused as much on regulation and high standards
of corporate governance, as it is on helping <strong>fund</strong> managers get their product into the marketplace.
S6 <strong>The</strong> regulator in focus
We speak with Glenford Malone, acting director, investment business at the BVI Financial Services
Commission, about <strong>hedge</strong> <strong>fund</strong> regulation on the Caribbean island and find a financial <strong>centre</strong> equally
interested in partnering with other international <strong>centre</strong>s to facilitate <strong>hedge</strong> <strong>fund</strong> business as it is in
assisting managers to get up and running.
S8 Crunch time
When it comes to number crunching, the British Virgin Islands’ auditors know a thing or two. From the
valuing of complex instruments to signing off books of <strong>fund</strong>s involved in illiquid instruments, they sit at the
<strong>hedge</strong> <strong>fund</strong>s industry’s cutting edge.As they explain to Phyllis Feinberg, new ‘fair value’ accounting standards,
such as FAS 157 are set to change the way the industry sets its pricing benchmarks, so picking a savvy
auditor up to date with such changes is key.
S10-S11 Administration – from minnows to mammoths, the BVI can help
Whether you’re in the billion-dollar club or have a smaller, pint-size portfolio, the BVI’s administrators can
help with a plethora of services beyond just NAV. Phyllis Feinberg sat down and asked a few to set forth
what they have to offer large and smaller <strong>fund</strong>s alike.
S12-S13 Divide and conquer? Segregated portfolio companies in the BVI and how to use them
Phyllis Feinberg finds out how segregated portfolio companies work and what their attractions are to
those constructing new vehicles. She also asks the BVI’s leading practitioners whether converting an
existing vehicle to an SPC is possible and worth it.
S15-S18 Enter the dragon via the BVI
<strong>The</strong> BVI as the world’s second largest investor in China? Fancy that! <strong>The</strong> BVI’s experts explain how (and
with which vehicles) to establish a joint venture in the Caribbean island to invest into China – and why with
growing wealth and infrastructure, China should be on every <strong>hedge</strong> <strong>fund</strong>s’ radar screen.
S19 Future perfect
From the Securities and Investment Bill, to keeping set-up prices low, to international roadshows, the
British Virgin Islands is making the most of telling a good story about its proposition for <strong>hedge</strong> <strong>fund</strong>s. Phyllis
Feinberg hears about some of the latest chapters.
S20 Administrator in profile
Fortis Prime Fund Solutions entered the BVI by acquiring Hedge Fund Services (BVI) in 2006. Clayton
Burton, managing director, outlines Fortis’ where to from there, and where to from here, for the global
<strong>hedge</strong> <strong>fund</strong> administration giant.
S21-S22 Hard-nosed flexibility
Sherri Oritz, COO at the BVI’s International Finance Centre makes the case for the BVI globally.
S23 <strong>The</strong> BVI at a glance
All you ever wanted to know – maybe even some things you didn’t need to know – about the British Virgin
Islands
www.<strong>hedge</strong><strong>fund</strong>sreview.com October 2007 | british virgin islands supplement <strong>hedge</strong> <strong>fund</strong>s review | S3