Guernsey funds sector sees return to ‘strong growth’
21 January 2020 Guernsey
Image: Shutterstock
Guernsey’s investment funds industry has seen a ‘return to strong growth’, according to an annual report from Monterey Insight, an independent fund research company.
The report outlined that fund assets serviced in Guernsey increased to $412 billion at the end of June 2019, which marked an increase of 3.2 percent on the previous year.
However, the number of serviced schemes and sub-funds fell slightly, the report revealed.
Monetary Insights’ managing director Karine Pacary noted that Guernsey demonstrated strong returns during the last year and managed to once again attract major players to launch their private equity funds.
Additionally, Pacary highlighted an increase in infrastructure schemes and on overall strengthening of the local industry.
Meanwhile, Dave Sauvarin, chief executive of Northern Trust Channel Islands, the island’s largest fund administrator and custodian, commented: “Guernsey maintains its strength as a global launch pad for investment funds, particularly with regard to alternative assets, which are growing in prominence in the world’s financial markets.”
Sauvarin suggested as we enter 2020, asset managers will continue to see Guernsey as offering stability, security, sustainability and substance for their funds.
Roland Mills, partner at PwC Channel Islands and asset management leader in Guernsey, stated: “In this vastly changing environment, Guernsey continues to have a thriving investment management industry and is recognised as a global centre of excellence for private equity, providing appropriate structures, a robust regulatory environment and first-class professional services.”
The report outlined that fund assets serviced in Guernsey increased to $412 billion at the end of June 2019, which marked an increase of 3.2 percent on the previous year.
However, the number of serviced schemes and sub-funds fell slightly, the report revealed.
Monetary Insights’ managing director Karine Pacary noted that Guernsey demonstrated strong returns during the last year and managed to once again attract major players to launch their private equity funds.
Additionally, Pacary highlighted an increase in infrastructure schemes and on overall strengthening of the local industry.
Meanwhile, Dave Sauvarin, chief executive of Northern Trust Channel Islands, the island’s largest fund administrator and custodian, commented: “Guernsey maintains its strength as a global launch pad for investment funds, particularly with regard to alternative assets, which are growing in prominence in the world’s financial markets.”
Sauvarin suggested as we enter 2020, asset managers will continue to see Guernsey as offering stability, security, sustainability and substance for their funds.
Roland Mills, partner at PwC Channel Islands and asset management leader in Guernsey, stated: “In this vastly changing environment, Guernsey continues to have a thriving investment management industry and is recognised as a global centre of excellence for private equity, providing appropriate structures, a robust regulatory environment and first-class professional services.”
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