Case Study 1

Fund Administration and Strategic Partners: Strategic Outsourcing Partnership

Overview

By making use of a strategic outsourcing partnership we achieve effective administration and support that meets your needs, within the Guernsey regulatory framework.

Active has combined incubation and joint venture approaches to take a partnership venture (with a near 50/50 shareholding) with the PSG Group Plc of South Africa.   PSG Group has an offshore presence in Guernsey which was originally incubated by the Active Group.   Active provided a full and detailed range of services dedicating a number of staff full time to administrative duties and providing full compliance and management support.  To enhance matters further Active Group took a significant stake in this venture in order to bring to the table even more of its resources but also to enable Active Group to be able to offer an in house fund boutique in  conjunction with the PSG Group.

Therefore PSG and Active together are able to offer 'concept-to-end-result' fund administration solutions to clients, whatever their needs.

PSG Active offers fund platforms whereby clients can create their own branded, white labelled cell within an umbrella structure.  PSG Active handles the fund set up, ongoing administration and support for any special purpose vehicles required, as well as assistance with listing on stock, exchanges, approval with overseas regulators for marketing, liaison with GFSC to make amendments and changes to the schemes and of course full accounting and registration services as per any fund administration house.

PSG Active has established and runs funds for various fund promoters in the UK and in South Africa, including the Mansion Group, Personal Trust and many others.

PSG Active, as a strategic partner, is able to design and create through to full administration almost any fund structure and currently administers around $500 million in assets from its Guernsey offices.

The Active Solution

Case studies have involved various aspects of fund structuring including:

• migration of current funds into newly created cells within the PSG Active platform;
• rapid establishment of vanilla cells to accommodate funds with ready to launch seed capital;
• creation of special purpose vehicle structures for purchase and holding of assets;
• first rank custodian (BNP Paribas Trust Company (Guernsey) Limited) as custodian over all fund assets;
• assisting with set up on Life Company platforms for high volume trading and subscriptions;
• assistance with legal issues concerning establishment and integration of fund parties.

The umbrella platforms currently used by PSG Active contain over thirty individual cells investing in assets from life insurance policies, student accommodation, equities, bonds, property, fund of funds, feeder funds and currency funds.