Lowtax Network

Back To Top

Your Lowtax Account

Guernsey Fund Sector Contracts Substantially

by Jason Gorringe, Lowtax.net, London
10 March, 2015

The net asset value of funds under management and administration in Guernsey decreased by 16.2 percent in the fourth quarter of 2014, principally due to the relocation of one firm to another jurisdiction during the last quarter of 2014.

For the year ended December 31, 2014, the entire fund sector contracted by 17.8 percent (compared with the previous year) and the total assets under management stood at GBP218.7bn (USD329.22bn) at year end.

Non-Guernsey schemes, for which some aspect of management, administration, or custody is carried out in the territory, decreased by 47.4 percent over the last quarter of 2014 and by 50.2 percent since year-end 2013. This significant drop in value is almost entirely due to the exit from the jurisdiction of a large non-Guernsey scheme manager, the Guernsey Financial Services Commission reported.

The net asset value of Guernsey-domiciled open-ended funds decreased by 4.8 percent in 2014, though the closed-ended sector remained stable, dipping only 0.2 percent compared with the previous year.


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 »