Guernsey regulation works for South African investment vehicle

23 February 2018

Praxis Fund Services (PFS) has supported one of its long-established clients through a second successful rollover and fundraising. The Guernsey-registered closed-ended investment company Asia Pacific Basket (APBL), raised $109 million through a combination of existing and new investors and offers exposure to a basket of major international indices while offering principal protection.

APBL raised A$30 million on its first closing in 2008 when it was a client of Investec Administration Services (IAS). PFS took over the administration of APBL in 2009 as part of the purchase of IAS, and administers seven similar investment vehicles where Investec Bank, acting through its corporate and institutional banking division in South Africa, acts as the promoter and investment adviser. APBL is incorporated in Guernsey and listed on the Bermuda Stock Exchange, offering investors regulatory protection across a number of jurisdictions.

Part of the PraxisIFM Group, PFS provides comprehensive and independent fund formation and administration services to start-ups and more established structures covering a wide range of asset classes.

“We’ve built an excellent partnership with Investec over the past nine years and I’m delighted that this relationship continues to go from strength to strength. Guernsey offers our clients economic and political stability with its robust and pragmatic legal and regulatory system in a secure and transparent jurisdiction,” said Julia Wilkes, Managing Director of PFS. 

"Guernsey offers our clients economic and political stability with its robust and pragmatic legal and regulatory system in a secure and transparent jurisdiction."
Julia Wilkes, Managing Director of PFS

Investec said it was intending to work further with PFS, increasing the number and size of investment vehicles launched and administered by the Guernsey firm.

 

Back to News
Download Find a related practitioner