View more on these topics

IoM sees 41.5% growth in managed funds

The Isle of Man sees increases in funds under management and banking deposits in the last year.

The IoM Financial Supervision Commission reveals the island has seen 41.5 per cent increase in the net asset value of funds under management of collective investment schemes in the year to March 31, 2005.

There is a 17 per cent net increase in the number of funds managed or administered, while banking deposits have increased 16.4 per cent.

The FSC puts expansion down to growth in the experienced investor fund and the overseas fund sectors, reflecting the popularity of hedge and alternative funds.

The IoM fund increase is attributed to the Treasury Minister’s 2003 budget, introducing a fund initiative, including a zero rate tax for all administrators and managers of EIFs and professional investor funds and VAT exemption for EIFs and Pifs.

FSC chief executive John Aspden says: “The figures from the annual report show that the Isle of Man is a jurisdiction of growth and change. The recent changes in regulation, particularly in the funds sector show that we are responding positively to the globalisation of business and business needs.”

Recommended

Ashley Law starting share option scheme for partners

National IFA franchise Ashley Law is setting up a share option scheme to allow members to participate in its growth. The shares – to be offered in Ashley Law parent Ashley Law Management Services – will be offered to any of the firm’s 85 franchise partners who achieve 60,000 annual turnover with a decent persistency […]

Friends’ business up 33% in first half

Friends Provident saw total life and pensions business rise 33 per cent from 212m to 282m in the first half of 2005 but says the market is difficult to call in the run up to A day. The insurer says margins held up but business volumes in the run up and immediate aftermath of A […]

When you wish upon a star

I have always been a cynic when funds are launched, particularly ones which have a quirky name that makes good promotional copy.

Japan: the Land of the Rising Dividends

By George Boyd-Bowman, Fund Manager at Neptune Many Western investors have long bemoaned the lack of a true dividend culture in Japan, claiming the corporate culture is not tilted in favour of shareholders. Yet today, in the Land of the Rising Sun, we see a fresh impetus to focus on shareholder returns, which is leading […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment