Guernsey Welcomes First Film Finance Fund
Wednesday, October 13, 2010
A new film fund launched by a local investment manager is believed to be the
first investment fund established in Guernsey to specifically invest in film
production, marketing and distribution.
Confiance Fund Services Limited has worked closely with UK-based investment
adviser High Fliers Film plc, and local law firm AO Hall as legal adviser, to
launch Confiance Film Products PCC Limited, which will invest in both big budget
and small budget movies.
“Financing films is always a delicate balance between the various parties
involved in making the film and bringing it successfully to its target audience.
You need to work with people who understand the film industry and have the relevant
experience,” said Richard Garrod, Director of Confiance Fund Services
High Fliers plc has over 20 years' experience in the film distribution market
in the UK, and a catalogue of films starring
Richard Gere, Forest Whitaker, Samuel L. Jackson, Carey Mulligan, Tim Robbins,
Susan Sarandon, Pierce Brosnan, Robert Carlyle, Claire Danes and Tommy Lee Jones.
Ian Hunt, Managing Director of Confiance Fund Services Limited, said High
Fliers’ experience had been combined with Confiance’s expertise
to create a completely unique investment fund at a time when the large film
studios are struggling to find film financing.
“Confiance Film Products PCC Limited was developed to fit in with the
needs of the film market. It also enables those investors looking for a different
asset class with identifiable returns to invest into. The concept was to utilize
the experience both at Confiance and in Guernsey in general to enable a broader
business development approach to encompass distribution, production, branding
and finance within the film arena,” Garrod said.
The first fund of Confiance aims to invest in a mix of films with different
genres and budgets, preferably with an A-list director and an A-list lead actor
or actress, to acquire the distribution rights to those films and then distribute
those films through cinema, DVD, video-on-demand, TV and other auxiliary formats
such as the internet and airline entertainment systems.
Future funds will also invest in film production and marketing which will give
investors the ability to invest in a full range of film financing opportunities
in Guernsey. It is proposed that future cells may also list on the Channel Islands
Stock Exchange with Newhaven Trust Company (Channel Islands) Limited acting
as the listing sponsor.
AO Hall’s group partner Sam Shires and associate Stephen Ozanne both
worked closely with Confiance and High Fliers Film.
“It’s always good to see Guernsey’s fund expertise being
used for new asset classes, and at the same time promote the continued flexibility
and popularity of the Guernsey protected cell company product,” said Shires.
“It has been very exciting to work closely with Confiance on this project
and also in bringing together some of the best minds in the film industry to
create an excellent new investment opportunity in Guernsey.”
Hunt and Garrod are both directors of the fund and members of Guernsey Film
LBG, a Guernsey business group that aims to promote the wide range of film financing
expertise in Guernsey.
The launch of the fund coincided with Guernsey Film’s inaugural seminar
in London, which was held on September 30, 2010.