Ogier Jersey has acted for Record Currency Management Limited in relation to the establishment of the Record Currency Multi-Class Fund, which tracks the performance of FTSE currency indices.  The fund is an open ended umbrella unit trust regulated in accordance with Jersey’s Expert Fund Guide.

The fund aims to raise in excess of US$50m.

The Ogier Jersey team advised in relation to the establishment of the fund and its Jersey manager, Record Currency Management (Jersey) Limited.  The team was headed by partner Michael Lombardi and assisted by managing associate Niamh Lalor and associate Heather Hiram.

Northern Trust Fiduciary Services (Jersey) Limited acts has been appointed to act as trustee of the Record Currency Multi-Class Fund.  The fund is administered by Northern Trust International Fund Administrators (Jersey) Limited. 

Commenting on the deal, Michael Lombardi said: “we are delighted to have worked with Record Currency Management Limited in connection with the launch of its first Jersey expert fund in what has proved to be a strong growth area.”