New TISE listing signals opportunity for Guernsey and Abu Dhabi

05 May 2020

Guernsey-headquartered The International Stock Exchange (TISE) has become home to the first fund established in the Abu Dhabi Global Market (ADGM) to be listed on a recognised European stock exchange.

The Opus Global Growth Fund PC is a cell of the open-ended Protected Cell Company (PCC), The Freedom Advantage Funds OEIC PCC Limited. The structure has been established under the laws of ADGM in the United Arab Emirates. It plans to invest in a diverse portfolio of funds. Two classes of the fund have been listed on TISE, aimed at private clients and institutional investors respectively.

The fund’s investment manager is the Middle East branch of Guernsey-headquartered Freedom Asset Management.

“Establishing the fund in ADGM was attractive to some of our cornerstone investors, but listing on a recognised European stock exchange, such as TISE, is important for both those seeding the fund and also those we are seeking to bring on board. The listing on TISE provides the extra comfort to investors of an additional regulatory stamp of approval and, as the Exchange is also widely recognised by authorities, it widens and deepens investor access,” said Freedom Principal Adrian Harris.

“I am sure that achieving this milestone will be hugely important for the ADGM fund industry. There is a lot of commonality between the regime which we have used previously in Guernsey and what we have been working with in ADGM so that has made it easier to set up our office and structure the fund.

“I think that each of Guernsey and ADGM has a role to play going forward, but what that is may depend on specific circumstances. We see a lot of opportunity for more firms to work across both jurisdictions in the future, which I hope will build bridges and will be mutually beneficial in terms of increased business flows.”

Fiona Le Poidevin, CEO of The International Stock Exchange Group Limited (TISEG), said: “It is very pleasing that TISE has yet again become home to another ‘first’. Our responsive approach to new initiatives, such as this fund, means that we are consistently chosen as a listing venue for innovative products. This is another example of where TISE is playing a key role in facilitating flows of capital internationally, not least at a time when the global economy is struggling in view of the impact of COVID-19.”

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