Ravenscroft has become the first company in the world to introduce a cutting edge client screening solution, which has been developed in the Channel Islands.
The RiskScreen system, which was developed by Channel Islands-based regtech business KYC Global Technologies, allows Ravenscroft to exceed current legislation on the monitoring of clients.
‘Ravenscroft’s growth and success has been built on delivering the services which our clients want and not what we think they need, whilst at the same time ensuring that we are compliant with regulation and legislation,’ said Ravenscroft’s money laundering reporting officer Guy Hardill.
‘We now have 5,000 clients and billions of pounds of assets under management and this, together with the constant changing AML requirements, meant we needed a more efficient approach to monitoring. We wanted to identify a solution which would meet our exacting technical requirements, now and into the future, and to find a company that shared the same customer service values as us.’
The Financial Services Opportunities Investment Fund Limited (FSOIF) is one of three specialist closed-ended funds for which Ravenscroft acts as investment manager. The Fund was established to acquire stakes in well-managed financial services and related companies which are in the main based in offshore financial centres, with an overall objective of attaining long term capital growth and an income stream.
Those that know or have invested into Bailiwick Investments Limited (BIL) recognise that when it comes to investment decisions, the Channel Islands are the prominent focus.
A quick scan down the portfolio holding list reveals an array of well-known and very successful local businesses, examples are: Jacksons CI Limited, Guernsey Recycling (1996) Limited and Sandpiper Topco Limited, three of a group of thriving local companies. These successful businesses have a number of things in common; a solid business plan, knowing their market inside out and most importantly a very impressive management team. It is great to see that within a small community like the Channel Islands that there are still companies that flourish outside of the financial world.
In today’s low interest rate environment, investors are finding it increasingly difficult to secure attractive, stable income yield. This is, however, not the case in the commercial office markets in the offshore financial centres of Guernsey and Jersey.
Both islands are home to a large number of high quality corporate occupiers, the list of which would not look out of place in the West End or City of London. In contrast with much of the UK outside London, the islands have seen sustained demand for Grade ‘A’ commercial offices as a result of both consolidation and inward investment. Limited land supply and the absence of speculative development have resulted in steady year on year rental growth.
In July, the IFSL Ravenscroft Huntress Balanced Fund and The IFSL Ravenscroft Huntress Global Blue Chip Fund, which will mirror the offshore equivalents, launched into the UK market.
I’ve joined Ravenscroft as head of investment management UK and bring with me three decades of wealth management experience having worked at Scottish Widows Investment Partnership, Cazenove, Prudential Bache, ANZ Grindlays and Coutts & Co. More recently, I was the head of multi-manager at Aberdeen Asset Management and responsible for the management and advice on more than £15bn of assets.
The investment management team is available for our clients who wish to delegate the day-to-day management of their portfolios. The team offer a full discretionary service via either our Huntress Fund range or through segregated mandates.
We are a firm believer that investment opportunities should be accessible for anybody who wishes to pursue them. As such, our fund range is available for investors with a minimum initial investment threshold of £5,000.
Even though our clients are familiar with the investment world, I am often asked with a fair amount of curiosity as to what actually happens during a typical day on the Execution Only trading desk.
As we all know, the world’s stock markets are affected by a limitless number of factors (major company news, economics, geopolitics, world events, natural disasters and so on) and as you would therefore expect, no two days are alike. The trading role is hugely varied and enjoyable as a result.
It’s fair to say there has been a material shift from the traditional perception of a stockbroker. We’re a world away from the pin-striped, bowler-hatted brigade of the last century and equally distant from the gossipy, likely lads of the yuppie era.
Clients want to put their wealth to work in financial markets and would like to be involved in the management of their investments and the decision making process, but are also looking for guidance and advice.
Group Chief Operating Officer, Guernsey Office
Andrew Courtney has been appointed to the newly created group chief operating officer role.
Corporate Finance Manager, Jersey Office
Ross Mallett has joined the Jersey office as a corporate finance manager, having previously worked at KPMG Jersey for two years.