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New Guernsey-based sub-fund

New Guernsey-based sub-fund

Thursday 29 April 2021

New Guernsey-based sub-fund

Ninety One Premier Funds PCC Limited has successfully completed the launch of a new sub-fund.

The Emerging Markets Total Return Credit Fund will invest in a diversified portfolio of emerging market fixed or floating rate credit instruments and related derivatives. US$50 million of a planned minimum investment of US$100m has been received from the first investor.

Grant Cameron, Managing Director of Ninety One Guernsey, said: "We were very pleased when our client, a large sovereign wealth fund, agreed to a Guernsey domicile for this new fund.

"Ninety One (previously Investec Asset Management) has operated in Guernsey for over 20 years offering funds managed out of our London or Cape Town offices and has many large institutional clients, but this is the first time that we have set up a fund to meet the specific needs of a large sovereign wealth fund."

The Carey Olsen team advising Ninety One on all Guernsey legal and regulatory aspects for the creation of the new cell was led by partner Annette Alexander, with assistance from senior associate Alexandria du Jardin and paralegal Jessica Barge.

"We are delighted that Carey Olsen was chosen to support Ninety One on the launch of its newest sub-fund, and the latest example of the attractiveness of utilising the protected cell company concept within a funds structure setting."

Pictured top: Grant Cameron, Managing Director of Ninety One Guernsey.

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