Back To Top

Your Lowtax Account


Guernsey's Fund Sector Grew In Q3

by Jason Gorringe, Lowtax.net, London
30 November, 2015

There was a 2.2 percent increase in the net asset value of all funds under management and administration in Guernsey in the third quarter.

At the end of September, the net asset value of all funds under management and administration stood at GBP225bn (USD337.6bn), up GBP5bn over the quarter.

The Guernsey Financial Services Commission reported that there was a 2.1 percent increase in the net asset value of funds managed or administered by closed-ended funds and a 0.8 percent increase for open-ended funds. Non-Guernsey schemes – open-ended funds that are not domiciled in Guernsey but have some aspect of their management, administration, or custody carried out in Guernsey – also increased by 1.3 percent.

The Chief Executive of Guernsey Finance, Dominic Wheatley, said: "It is pleasing to see that all three categories – open-ended, closed-ended, and non-Guernsey schemes – enjoyed growth during the third quarter. The figures are an endorsement of Guernsey as a jurisdiction for the administration of a diverse range of funds and further illustrate the current strength of our sector with a number of positives at play in recent months."

In total, Guernsey's financial services regulator approved 19 new investment funds during the third quarter, comprising 14 closed-ended funds, two open-ended funds, and three non-Guernsey open-ended schemes, meaning the total number of funds currently approved for domiciling or servicing in Guernsey stands at 1,045.

Data from the investment management and stockbroking sector, for the period up to the end of June 2015, confirmed total gross assets under management in Guernsey of GBP148.9bn, based on the returns of 157 firms.


See all of today's news


 

News Archive

Event Listings

Listings for the leading worldwide conferences and events in accounting, investment, banking and finance, transfer pricing, corporate taxation and more...
See Event Listings »