2015 a good year for Guernsey 22 March 2016Guernsey Reporter: Stephanie Palmer
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The Guernsey Financial Services Commission has seen a 3.7 percent increase in the net asset value of all funds under management and administration in the island.
At the end of December 2015, the total value of funds stood at £227.6 billion, £8.2 billion, or 3.7 percent, more than the total at the end of 2014.
This followed on from a positive Q4, which saw the total value of the funds business increase by 1.2 percent, or £2.7 billion.
In Q4 2015, closed-ended funds saw a 1.6 percent increase, totalling £140.6 billion. However, the value under management and administration in open-ended funds saw a slight 1 percent decrease, to a final figure of £39 billion.
For 2015 as a whole, this represents an increase of £4.8 billion, or 3.5 percent, for closed-ended funds, and a dip of £700 million, or 1.8 percent, for open-ended funds.
Dominic Wheatley, CEO of Guernsey Finance, said: “It is extremely pleasing to see that we ended last year with a further quarter of growth and that we saw an increase of more than £8 billion for 2015 as a whole.”
“These are encouraging signs and I’m sure our funds industry will look to capitalise on this momentum as we move through 2016.”
Guernsey approved 27 new investment funds in Q4 2015, meaning the current number of funds approved for domiciling or serving in the island now totals 1,012.
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