States gives £25k to help forge new fund managers
- James Lewis
- Aug 10
- 2 min read
The States of Guernsey has given £25,000 to a new initiative which aims to attract early career fund managers to the island.
Fund Foundry is a not-for-profit scheme set up in May that hopes to find five fund managers from around the world and help them establish themselves in Guernsey.
The grant from Economic Development (ED) will be used to support running costs of parent organisation Foundry Partners LBG.
Deputy Rhona Humphreys, ED’s Finance Lead, said the scheme was “excellent example of industry developing an innovative solution, with government providing targeted support to help bring that initiative to life”.
The chosen fund managers will each get £25,000 to help with the costs associated with establishing a Guernsey-based fund and 12 months of mentoring and industry support.
Mrs Humphreys added: “By encouraging first-time and emerging managers to choose Guernsey as the domicile for their investment funds, we can strengthen higher value economic activity and build on our long established position as an international funds centre.”
Applications are open until 1 September, with the final five fund managers to be revealed at the end of September at an on-island event.
Important gap
Darren Stephens, Director of Finance Sector Development, said: “The Fund Foundry fills an important gap in Guernsey’s fund offering by providing a structured route for first-time and emerging fund managers to launch Guernsey-domiciled funds.
“It reflects the strength of collaboration across the island’s finance sector, with government, industry bodies and private sector firms each playing their part in supporting the next generation of fund management activity.”
The initiative is a collaboration between private sector and government to build on the island’s financial sector and draw new Guernsey based investment funds and grow fund management businesses, a spokesperson said.
The application process will be managed independently by the Fund Foundry’s selection panel.
Dirk Bischof, Fund Foundry’s Programme Director, said the programme was the first of its kind from any international finance centre.
“Five places, twelve months, every asset class.
“The infrastructure has been here for decades – what was missing was a structured route in for first-time and emerging managers.”
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