Guernsey fund industry growth in Q1 2015 25 June 2015Saint Peter Port Reporter: Becky Butcher
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The value of investment fund business in Guernsey grew £2.8 billion, or 1.28 percent, during Q1 this year, according to the Guernsey Financial Services Commission (GFSC).
The net asset value of all funds under management and administration in Guernsey now stands at £222.2 billion. Some 25 new investment funds were also approved during Q1 2015.
Dominic Wheatley, chief executive of Guernsey Finance, commented: “It is encouraging to see strong growth in the Guernsey funds sector at the start of this year—not only in terms of the net asset value of funds under management and administration but also in the number of new funds approved in the quarter.”
The 25 new investment funds approved by the GFSC in Q1 comprised two open-ended funds, 14 closed-ended funds and nine non-Guernsey open-ended schemes, meaning the total number of funds currently approved for domiciling or servicing in Guernsey stands at 1,053.
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