a multi-jurisdictional group of companies, providing investment fund formation, administration & valuation services.
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June 7th 2010

A Full House at BVI House!

Derek Adler

Last Thursday ifina held an evening networking event hosted at BVI House in Mayfair, London. The event brought together over a hundred people including Government, Regulators, Associations, Accountants, Brokers, Banks and Investment Managers alongside senior representatives from AIMA, SFA and the International Finance Centre BVI. The quality and quantity of attendees as well as the networking and energy in the room was a reflection of the positive and significant step initiated by ifina, towards collaborative working between Government and the financial industry.

After a brief introduction by Director of ifina, Derek Adler, he introduced three well respected industry speakers to comment and provide their perspectives on the current status within the industry, in his keynote address he said:

“There was an enormous amount of finger pointing at the fund industry and in particular off-shore centres. In light of this and the recent EU directives ifina decided to organise this evenings event".

Then first up was Sherri Ortiz, Chief Executive Officer, International Finance Centre BVI. Sherri spoke about

“There's a constant push, a constant increase, a constant demand, for greater and greater regulation, greater and greater transparency . And that's not going change. Therefore the solution has to be working closer together".

Sherri is responsible for the coordination and implementation of the BVI Government’s marketing and promotion strategies conducted on behalf of the financial services industry. Sherri was the former Deputy Financial Secretary for the BVI Government’s Ministry of Finance.

Matthäus Den Otter, Director General of the Swiss Funds Association SFA was second to address the audience stating:

“The focus of the directive should be to treat everyone who wants to server European institutional investors, based on sound business principles, should have a chance to be a part of this market".

Matthäus was appointed Managing Director of the Swiss Funds Association SFA in April 2005. He is also a Member of the Board of Directors of Efama, the European Fund & Asset Management Association Efama, Brussels. Matthäus has spent almost his entire career in the fund industry and has a wealth of industry knowledge.

And finally Andrew Baker, Chief Executive Officer of AIMA, Andrew addressed the audience by saying:

“This is a test case for keeping our markets open and keeping to the principles of free investor choice. Watch this space, because the negotiations are going to be tricky".

AIMA is the trade association representing the global Hedge Fund industry, and Andrew has been in this role since January 2009. Prior to joining AIMA he spent six years at Schroders in London where he was COO.

All in all, these brief addresses were enough to spark very interesting debate and discussions throughout the evening amongst the packed audience of quality attendees. Video's and still photography of the event will be posted on the ifina website over the next few days for those who couldn't attend and be sure to watch the website for the announcement of future events.

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