Funds Managed In Guernsey Decline In Q2
by Jason Gorringe, Lowtax.net, London
17 September, 2014
The net asset value of funds under management and administration in Guernsey contracted by 1.1 percent to GBP261bn (USD422.2bn) in the second quarter, figures from the Financial Services Commission show.
Guernsey-domiciled open-ended funds declined by 4.4 percent to GBP40.7bn, and closed-ended funds decreased by 0.5 percent to GBP135.7bn. Against the same period in 2013, open-ended funds were down 18.1 percent and closed-ended funds had declined by 1.3 percent.
Non-Guernsey schemes, for which some aspect of management, administration, or custody is carried out in Guernsey, decreased by 0.2 percent during the second quarter to GBP84.9bn, and by 14.1 percent year-on-year.
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