Guernsey’s fund sector reports year-on-year growth
05 January 2018 St Peter Port
Image: Shutterstock
The total value of funds business in Guernsey grew by approximately £20 billion over the 12 months to the end of the Q3 2017, according to the Guernsey Financial Services Commission (GFSC).
At the end of September 2017, GFSC found that the net asset value of all funds under management and administration in Guernsey stood at £269 billion, an 8 percent increase on September 2016.
With the net asset value of funds growing by nearly £25 billion between Q3 2015 and Q3 2016, which confirmed two years of consecutive growth.
GFSC suggested that the year-on-year growth was mostly due to the increase of Guernsey-domiciled closed-ended funds, which increased by approximately 9 percent, £13.7 billion over the 12-month period.
The Guernsey financial services regulator approved 10 new investment funds during Q3, comprising six closed-ended funds, one open-ended fund and three non-Guernsey schemes, contributing to a total of 982 funds currently approved for domiciling or servicing in Guernsey.
In addition, other non-Guernsey schemes grew by £7.8 billion (15.23 percent) since 30 September 2016, valuing them at £59 billion.
Dominic Wheatley, chief executive at Guernsey Finance, said: “This consistency in Guernsey’s funds sector highlights how stable and attractive we are as a place to domicile funds, especially in the face of political instability causing uncertainty globally over the last couple of years.”
He added: “As an international finance centre, Guernsey is utilised by the UK as a gateway for investing into and raising capital from the rest of the world.”
At the end of September 2017, GFSC found that the net asset value of all funds under management and administration in Guernsey stood at £269 billion, an 8 percent increase on September 2016.
With the net asset value of funds growing by nearly £25 billion between Q3 2015 and Q3 2016, which confirmed two years of consecutive growth.
GFSC suggested that the year-on-year growth was mostly due to the increase of Guernsey-domiciled closed-ended funds, which increased by approximately 9 percent, £13.7 billion over the 12-month period.
The Guernsey financial services regulator approved 10 new investment funds during Q3, comprising six closed-ended funds, one open-ended fund and three non-Guernsey schemes, contributing to a total of 982 funds currently approved for domiciling or servicing in Guernsey.
In addition, other non-Guernsey schemes grew by £7.8 billion (15.23 percent) since 30 September 2016, valuing them at £59 billion.
Dominic Wheatley, chief executive at Guernsey Finance, said: “This consistency in Guernsey’s funds sector highlights how stable and attractive we are as a place to domicile funds, especially in the face of political instability causing uncertainty globally over the last couple of years.”
He added: “As an international finance centre, Guernsey is utilised by the UK as a gateway for investing into and raising capital from the rest of the world.”
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