Investing on
your doorstep
Fund Limited (“FSOIF”) which own businesses and
properties across the Channel Islands and in the Isle
of Man. All three are listed on The International Stock
Exchange (“TISE”).
It seems like the headlines over the last year have
alternated between Brexit, Trump and trade wars and
we are asked on an almost daily basis what the impact
is likely to be on the financial markets. Our advice is
consistently the same; ignore the noise and know what
you own and why you own it.
Of course that is easier said than done in times of
volatility. Even the risk takers will be forgiven for getting
a little jittery and consider cashing it all in and hiding it
under the bed. But there is an opportunity to invest
much closer to home and while it’s not the biggest
choice in the world, there’s definitely enough to look
at and I’m sure you’ll be surprised at what’s available on
your doorstep.
Living on an island, we know just how efficient and
resilient locals are. We’re not out to conquer the world
but we’re making the best of our enterprise, vision and
distance from the political craziness and uncertainty all
around us. Of course we’re not immune from our UK
affiliations but generally we reap what we sow.
Within all this are thriving businesses assisted by their
geographic protection, quality management and sturdy
marketplace. Brighter people than me spotted the
opportunity to list some of these companies and the
benefits are very apparent. Immunity is probably too
strong a word but there’s historically been very little
volatility in local listings. The rationality of the investment,
rather than sentiment, drives the value and the noise
of the outside world is largely ignored. Added to this
is the familiarity with what and who you’re investing
in; there is a definite appeal to owning a small part of
the companies you use regularly or drive past on your
morning commute and the buildings you might work in
or walk past as you go to a meeting.
Ravenscroft plays a significant part in the promotion and
trading of local entities through our role as investment
manager to Bailiwick Investments Limited (“Bailiwick”),
the Channel Islands Property Fund Limited (“CIPF”)
and the Financial Services Opportunities Investment
So what do each of them invest in and are they
worthwhile considering?
Bailiwick has gross assets under administration of
more than £80 million. It has the objective of attaining
long-term capital growth by investing principally in a
diversified portfolio of investments situated, operating
or headquartered in the Channel Islands. Within its
portfolio are a number of well known names, including:
• Sandpiper - the largest operator of food convenience
shops across the Channel Islands with a network
of 45 stores. Sandpiper also works in partnership,
on a franchise basis, with a large number of blue
chip UK retail brands and now operates in more
than 30 locations. Brands include Costa Coffee,
Morrisons and Iceland. Bailiwick announced in
March that Sandpiper also plans to list on TISE.
• Jacksons CI Group - regarded as the Channel
Islands’ leading motor dealership which includes
Jacksons, Motor Mall, Trinity Tyres in Jersey and St
Martin’s Tyres in Guernsey. Last year it created a
new state of the art, multi-franchise facility in the
Isle of Man.
• Jersey Electricity Limited - the sole supplier of
electricity in Jersey serving around 50,000
domestic and commercial customers. It is listed on
the London Stock Exchange.
• Oatlands Village - one of Guernsey’s leading visitor
attractions which has recently undergone a multi-
million pound redevelopment including a new play
barn, ten pin bowling and trampolines.
Bailiwick has been consistently paying two dividends per
year to its shareholders, which for 2017 and 2018 was
5.5 pence per share each year.
CIPF, which has gross assets under management of more
than £255 million, aims to deliver capital growth and
dividends through the acquisition and management of
commercial property in the Channel Islands and Isle of Man.