Ministerial visit by Gavin St. Pier, Chief Minister of Guernsey, and Ian Gorst, Chief Minister of Jersey and drinks reception Hosted by CIBO (Channel Islands Brussels Office) At L’Atelier restaurant, rue Franklin on Tuesday, 29 November 2016



Gavin St. Pier, Chief Minister of Guernsey


The Governments of Guernsey and Jersey, at an informal reception in Brussels, underlined their mutually beneficial relationship with the EU and their key role in attracting major funds to invest  here. After applauding the aims of the inaugural Invest Week, they noted the importance of the third country dimension under Capital Markets Union (CMU) for enhancing the EU’s appeal to international investors.


  • Guernsey and Jersey both specialise in channelling investment from around the globe into funds that are then invested in Europe.

  • The Channel Islands have actively engaged with the European Commission’s CMU initiative from the start in 2015, but are currently disappointed that the barriers to international investment into the EU have not so far been addressed.

  • Guernsey and Jersey look forward to the Commission extending to them the third country passport under the Alternative Investment Fund Managers Directive (AIFMD): this will boost the confidence of international investors and thus benefit EU growth and jobs.


The Channel Islands enjoy a close relationship with the EU. ‘We are entrepots for attracting globally mobile capital which can then be invested in Europe,’ said Gavin St. Pier, Chief Minister of Guernsey, who emphasised how this chimes with many of Invest Week’s themes. He added that around half of the £466 billion in funds managed or administered by Guernsey and Jersey comes from investors outside of the EU: these funds are largely invested into Europe’s key infrastructure and businesses.


The Channel Islands support the objective of making the EU more attractive to international investors. However, they are disappointed that the international dimension of CMU has so far not been prioritised. Guernsey and Jersey believe that the EU can signal it is ‘open for business as usual’ by soon extending the third country passport under the Alternative Investment Fund Managers Directive (AIFMD) to equivalent third countries and this will boost international investment. Research undertaken has shown that, over the next five years, this could potentially lead to a 10% increase in Channel Islands funds launched in the EU, with 20% greater capital per launch and a cumulative 40% increase in investment in EU infrastructure assets.

Channel Islands supports ambition to make the EU more attractive to global investors