While the global funds industry eagerly anticipates the form Brexit will take and which countries will enjoy third-country passporting rights under the Alternative Investment Fund Managers Directive
(AIFMD), offshore jurisdictions increasingly seek to lure funds by positioning themselves as reputable financial centers with robust legal and financial services infrastructures. Amid these developments and trends, the island of Jersey holds considerable appeal due to its receipt of a favorable assessment on the equivalence of its legal regime with that of the E.U.; network of management firms to assist fund managers with reporting and compliance; and tax-neutral environment beneficial to certain fund structures established in the jurisdiction. Yet myriad questions face funds that seek to do business there. What is the status of the third-country AIFMD passport? How does Jersey’s reputation compare to other offshore jurisdictions such as the Cayman Islands or Guernsey? How should fund managers go about doing business in Jersey? What administrative, operational and strategic approaches are ideal for a given type of fund? To cast light on these questions and help fund managers make informed decisions about setting up and operating in Jersey, the Hedge Fund Law Report has conducted an in-depth interview with Emily Haithwaite, who recently joined Ogier
as a partner. For more on Jersey, see “ESMA Recommends Extension of the AIFMD Passport for Hedge Fund Managers and Funds in Certain Non-E.U. Jurisdictions
” (Aug. 6, 2015).