Guernsey Funds Sector Recovers In Q1
by Jason Gorringe, Lowtax.net, London
23 June, 2015
The net asset value of total funds under management and administration in Guernsey increased, in sterling terms, during the first quarter by 1.32 percent, according to new figures from the Guernsey Financial Services Commission.
The net asset value of funds increased by GBP2.9bn (USD4.58bn) during the period and now stands at GBP222.2bn.
Despite a healthy first quarter, the figures show that for the year ended March 31, 2015, the total net asset value of funds has fallen by 15.8 percent.
During the first quarter, the best performing segment was Guernsey domiciled open-ended funds, the net asset value of which increased by 3.5 percent. The closed-ended sector saw a fall in the value of funds under management and administration by 0.7 percent.
Non-Guernsey schemes, for which some aspect of management, administration, or custody is carried out in the territory, saw an increase in net asset value by 5.2 percent. However, the net asset value of non-Guernsey schemes has fallen by 45.7 percent in the last year.
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