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NEWS Altis Partners enters Asia


ALTIS Partners, the independent commodity trading adviser, has opened its Hong Kong office, Altis Partners (Asia). This is the company’s first office outside Europe and makes Altis the first Jersey-based hedge fund manager to open an office in Hong Kong. “This is a great time for Altis to open an office in Hong Kong,” says Robin Duxfield, Chief Executive of Altis Partners (Asia). “Many Asia Pacific economies are growing strongly, with increased volume and liquidity in their futures markets. Having a local presence allows us to improve execution of our existing trading programme and develop relationships to research new opportunities.”


Faster broadband


for Jersey JERSEY Telecom Group (JTG) has announced plans to bring even faster broadband speeds the island from December 2010. Following a substantial programme of investment in the island’s infrastructure, the JTG network will now be able to make speeds of up to 20Mb much more widely available. The company estimates that approximately 25 per cent of households will be able to achieve between 15Mb and 20Mb from December this year. As well as being made available to customers of JTG’s retail division, these speeds will also be provided to wholesale partners Sure and Newtel for onward sale to their customers.


8 businesslife.co December 2010/January 2011


Guernsey funds business on the up


FIGURES issued at the end of November 2010 show that the value of investment fund business in Guernsey grew by £18.9bn (8.4 per cent) during the third quarter of the year.


The increase means the island has now seen five consecutive quarters of growth, and it’s taken the net asset value of funds under management and administration in the island to a new record high of £243.1bn at the end of September 2010. This is an increase of £61.6bn (33.9 per cent) on the same time in 2009. Peter Niven, Chief Executive of Guernsey Finance, says: “I am extremely pleased to see that the momentum we picked up in the second half of 2009 is continuing through 2010. It has been a somewhat challenging time, but our feeling is that the sector is well placed to maintain this growth moving into 2011.”





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