This course is designed as a natural extension of Fund Overview 1, offering a broader perspective rather than a more advanced challenge. It builds on foundational concepts and introduces additional topics relevant to professionals working in or around Guernsey’s fund environment; with more of an emphasis on closed-ended fund structures, which are frequently encountered in fund administration roles.

While it complements Fund Overview 1, this course can also be taken as a stand-alone programme. It is suitable for anyone seeking deeper insight into fund operations, structures, and regulatory considerations, regardless of prior attendance.

The course will cover:

• Overview of fund types, operating structures, and structure combinations
• Examination of Limited Partnership structures and how they differ from other fund vehicles
• Regulatory landscape and its impact on the fund sector, including Conduct of Business rules
• Key fund documentation and agreements and their role in driving fund operations
• Principles of equalisation, carried interest and performance fee mechanisms
• Fundamentals of currency transactions in fund administration
• High-level review of fund valuation approaches for open-ended and closed-ended funds
• Case study: Identifying and understanding valuation errors
• Operational and regulatory impact of pricing errors
• Hands-on case study: Performing a simple private equity fund valuation
• Implications of illiquid investments on fund operations
• How to read and understand fund financial statements, using a real-world property fund example