Guernsey Regulation Ideal For South African Investment Vehicle

By: GIFA , Thursday, February 22, 2018

PRAXIS Fund Services Limited (PFS) has supported one of its long-established clients through a second successful rollover and fund-raising. The Guernsey-registered Closed-Ended Investment Company, Asia Pacific Basket Limited (APBL), raised USD109m through a combination of existing and new investors and offers exposure to a basket of major international indices while offering principal protection.

APBL raised AUD30m. on its first closing in 2008 when it was a client of Investec Administration Services Limited (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 Limited, acting through its Corporate and Institutional Banking division (Investec) in South Africa, act as the promoter and investment adviser.

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.

APBL is incorporated in Guernsey and listed on the Bermuda Stock Exchange, offering investors regulatory protection across a number of jurisdictions.

Julia Wilkes, Managing Director of PFS, commented: ‘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.’

Japie Lubbe of Investec Corporate and Institutional Banking said: ‘Investec Corporate and Institutional Banking have a good partnership with PFS and we look forward to further increasing the number and size of the investment vehicles that are launched and administered by them.’

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