BVI Finance in collaboration with the BVI Investment Funds Association (IFA) hosted their first ever breakfast Funds Forum on June 23 at Maria’s by the Sea.

The forum was held to sensitise the industry on the incubator and approved funds which are new BVI funds products. The eighty attendees at the forum discussed the funds origin, attributes, targets and differences.  Discussions were also held on reporting deadlines and requirements for funds and management companies, FATCA and the reinvigoration of the BVI Funds industry. 

Executive Director of BVI Finance Mr. Julien Johnson said, “We are excited by the interest in the new funds products and look forward to partnering like this with other sectors of the industry to host similar forums in the future.”

The forum was also addressed by Chairman of the IFA, Walter Reich; Partner and Head of Harneys’ Funds and Regulatory Team, Philip Graham; Partner at Maples and Calder, Tim Clipstone; and Head of the Audit and Tax practice at KPMG, Grant Green.

The two new BVI funds products were developed to complement the BVI’s very popular existing funds offering with the intention of remaining on the cutting edge of the financial services market. The new funds aim to compete with other jurisdictions’ funds product offerings and are aimed at start-up emerging managers and those managing funds for smaller groups of closely connected investors.

The new products and the regulations are an addition to the BVI investment funds landscape and are expected to further refine the British Virgin Islands' reputation as a flexible, innovative, attractive and cost-effective jurisdiction for new fund launches.

BVI Finance (formerly the BVI International Finance Centre) is solely responsible for marketing and promoting the BVI financial services industry, which is carried out by a professional pool of individuals both locally and internationally. More information can be found at www.bvifinance.vg, contacting info@bvifinance.vg or following BVI Finance on Facebook, Twitter and LinkedIn.