Appleby hosted its first Funds Debate at the Royal Yacht Hotel, Jersey on Thursday 8 July, focussing on the future and the relative strengths of Jersey, Guernsey and the Cayman Islands as leading domiciles for fund formation.
In the spirit of the Prime Ministerial/Party Leader’s television debates in the run-up to the UK General Election, Mark Lewis acted as moderator with Andrew Weaver putting forward the case for Jersey, Barney Lee the case for Guernsey and Alex Last responding for the Cayman Islands. The debate, which attracted over 100 attendees and proved to be a lively affair, covered issues such as: the key competitive advantages and product types for each jurisdiction; which markets are opening up and closing down for each jurisdiction; the main threats to each jurisdiction; and how well-placed each jurisdiction is to cope with what the future holds.
Mark Lewis, Appleby’s Head of Corporate & Commercial in Jersey, who also acted as moderator, commented: “What struck me when listening to the debate was that this is a long term game. Each jurisdiction has adopted a different approach to attracting business and these different approaches have served them all well. Because of this there may be no need for radical alteration but rather gradual adaptation in response to market change. It is a competitive market place and no doubt each jurisdiction will continue to tweak their offerings in order to remain competitive. But essentially all of the Islands should have confidence in what they have to offer.”
Appleby is looking to hold the Funds Debate in Guernsey in the autumn.