Roadtown, Tortola - A joint delegation comprising officials from the BVI International Finance Centre (BVIIFC) and representatives from the private sector will be attending the Alternative Investment Summit which begins in Sao Paulo, Brazil today.

The May 4 - 7 meeting comes against a challenging backdrop for the hedge fund industry.  The Territory’s delegation will be highlighting the advantages of structuring funds through the BVI and the wider benefits of conducting business within the region. Only since the middle of 2008 have Brazilian funds been able to invest 100% of their capital outside Brazil, making structures such as those available in the BVI attractive to fund managers there and creating additional business opportunities for the BVI.

IFC’s Chief Operating Officer Ms. Sherri Ortiz, commented that “Brazil is of significant strategic importance to the BVI; we can provide a range of excellent services that are very attractive to the Brazilian fund industry. Unlike other offshore jurisdictions, the BVI is a member of the International Organization of Securities Commissions (IOSCO) which is a pre-requisite for the Brazilian fund industry.”

Ms. Ortiz further stated that “the BVI has an excellent track record for transparency and regulation and has long collaborated with international organisations. We are delighted for the opportunity to be in Brazil and we look forward to developing long-lasting and productive relationships in the years to come.”

The BVI delegation includes officers from the International Finance Centre (IFC) as well as four persons from the private sector who specialise in fund management.  Mr. Marco Martins from local law firm, Harneys will be a guest speaker on a panel to discuss the topic “Structuring Your Fund to Attract International Investors”. 

BVI delegates will also use the opportunity to showcase the Territory’s financial services offerings through an attractive display where they will distribute material about the products and services available.

The IFC’s Chief  Operating Officer said its is important to maximise the benefits to be derived from participating in such conferences, adding that marketing the Territory as a premier financial centre is of serious importance for the jurisdiction.

The International Finance Centre is the Government department responsible for the marketing and promotion of the international financial services sector. It is the IFC’s vision that the Territory will continue to be recognized as an innovative, efficient and respected international finance centre through the quality of its people, services and regulatory environment.