There was a “critical lack of transparency” by the Isle of Man’s treasury minister in the lead up to introducing pension freedoms for the island, the chair of the jurisdiction’s association of pension scheme providers told Internat
Part of the PraxisIFM Group, PFS provides fund formation and administration services to start-ups and more established structures, covering a wide range of asset classes.
The company is listed on the London Stock Exchange, and has a market capitalisation of £461 million ($642 million), with assets of £570 million ($788 million).
“There is no single structure right for every jurisdiction, investor base or opportunity set,” he said.
The aim is to deliver long-term capital growth to its shareholders, including the States of Guernsey, which has committed to investing up to £25 million.
Jersey-based JTC, which has buy-out house CBPE Capital as a minority investor, is working with stockbrokers Zeus and Numis to advise it on an initial public offering (IPO), the sources said.