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 Scarborough Channel Islands Limited, the Guernsey based subsidiary of UK based Scarborough Building Society, has announced a trio of changes to its offshore deposit account range.
A new issue of its popular limited edition Offshore Reserve account has been launched, offering savers the best of both worlds – variable interest rates of up to 6.40% gross AER and the flexibility of up to four penalty-free withdrawals per year.
At the same time, the St Peter Port based bank has re-launched its 6 Month Rollover Bonds, which now offer fixed rates up to 6.20% and, unusually for a fixed rate account, partial penalty-free access prior to maturity.
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Scarborough Channel Islands has launched a limited issue 90-day sterling notice account to attract new customers with a minimum investment sum of £5,000.
Guernsey-based Scarborough CI says that the Offshore 90 Direct account offers two rate guarantees. The rate of 6.30 per cent pa (6.15 per cent monthly) is guaranteed until 31 July, 2008.
If the Bank of England base rate exceeds 6.30 per cent during this period, the account will match and track this rate until 31 July 2008.
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Royal Bank of Canada (Channel Islands) Limited and Royal Bank of Canada Offshore fund Managers Limited have been appointed by Bramdean Alternatives Limited (the “Company”) as, respectively, 'Custodian' and 'Administrator' to the Company.
The Company, which is a Guernsey registered, closed-ended investment company, currently offers share classes denominated in Sterling and US Dollars which are listed on the London Stock Exchange.
The Company’s portfolio will invest in private equity funds, hedge funds and specialty funds, such as infrastructure and natural resources, within fixed Asset allocation ranges.
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Landsbanki Guernsey, the specialist offshore subsidiary of Landsbanki
Islands, has announced that it will pass on at least the full 0.25 per
cent recent increase in the Bank of England Base Rate.
The interest rate on its International Access account will increase by 0.30 per cent.
The International Access account now offers an annual interest rate of
6.01 per cent AER, while the International 60 pays 6.11 per cent AER
and the International Tracker 90 has an interest rate of 6.21 per cent
AER.
The interest rate on the 1-Year Fixed Rate Bond has also been increased
to 6.21 per cent AER, while interest rates of up to 6.41 per cent AER
are available for longer terms. |
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Landsbanki Guernsey, the specialist offshore subsidiary of Landsbanki Islands has announced an interest rate rise on its range of one to five year fixed rate bonds.
The two and three year period bonds now have market-leading interest rates of 6.41 per cent gross/AER.
The bonds are available to both individuals and corporate investors with interest paid either annually or at maturity, to suit their tax-planning needs.
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Leading Hedge fund services provider Citco Fund Services has been
granted a license from the Guernsey Financial Services Commission,
allowing them to provide fund administration services within its
jurisdiction. This
means that Citco now boasts fund administration services in both
Channel Island jurisdictions of Jersey and Guernsey, reflecting the
area’s growing importance for the Domicile of investment funds. |
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The world’s first art fund with a hedging mechanism has been launched by Guernsey-regulated Artistic Investment Advisers Ltd
The fund, known as The Art Trading Fund, has a minimum investment of £100,000 and is aimed at high net-worth individuals and institutional investors. It seeks to challenge the traditional ‘buy and hold’ business model of investment funds, instead offering investors a liquid, and credible, high return opportunity over a three-year closed end period.
The fund will target annualised returns of 30 per cent, based on back tested results of the investment adviser’s track record. It will also aggregate primary and secondary art markets, the first and only fund to do so, buying and selling through a global network of dealers, artists, auction houses and galleries. |
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