Castle joins new Gibraltar Stock Exchange to list funds
Castle Fund Administrators (CFA) has been accepted as a founding member of the new Gibraltar Stock Exchange (GSX) that will begin listing open-ended funds from January and aims to appeal to non-EU funds,particularly in Asia and the US, as a preliminary step towards EU domiciliation.
Castle will act as listing agent of GSX, which provides a fast-to-market and cost effective service for collective investment schemes that wish to make themselves available to investors looking for greater transparency and visibility through an EU listing.
Founded in 2007, CFA s a Gibraltar company fully regulated and authorised by the Gibraltar Financial Services Commission (FSC) to provide fund administration services, and CFA forms part of the 22 years old Castle Trust Group, which specialises in fund administration, company and trustmanagement and international investment structures.
GSX is a privately-funded enterprise that received its FSC stock exchange license in October and forms part of the commitment by government and domestic service providers to promote Gibraltar as a business friendly jurisdiction and internationally recognised finance centre.
Neil Gogan, a CFA director, commented: "We are finding an increasing proportion of our client base is considering the incorporation of some form of fund structure in their overall structures due to the implementation of AIFM and our GSX Member status can bring significant benefits for them."
"We have also found that a number of Caribbean–domiciled funds are seeking to set up feeder funds in Gibraltar. Assuming that they opt for full 'in-scope' AIFM status, feeder funds allow them to passport and market a fund across the EU from Gibraltar."
"Some funds that have recently contacted us are even considering re-domiciling to Gibraltar", said Neil, who previously worked for HSBC and Banco Santander and has extensive experience in funds’ operations in his native Dublin, as well as Madrid, Luxembourg and Gibraltar.
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Castle Fund Administrators Limited is licensed and regulated by the Gibraltar Financial Services Commission under licence number FSC0955CIS, to provide fund administration services to collective investment schemes.