Fund sector in Guernsey registers strong Q3 growth
The Guernsey Financial Services Commission has reported an increase in the net asset value of funds managed or administered by closed and open-ended funds in Q3.
The former saw an increase of 2.1% and the latter 0.8%, which means all funds under management and administration in Guernsey grew in net asset value during this period.
As of the end of September, the net asset value of all funds under management and administration totalled £225bn - an increase of £5bn over the quarter.
Open-ended funds not domiciled in Guernsey but managed or administered there in some way (non-Guernsey schemes) increased by 1.3%
Dominic Wheatley, the Chief Executive of Guernsey Finance, said: "It is pleasing to see that all three categories – open-ended, closed-ended, and non-Guernsey schemes – enjoyed growth during the third quarter. The figures are an endorsement of Guernsey as a jurisdiction for the administration of a diverse range of funds and further illustrate the current strength of our sector with a number of positives at play in recent months."
In Q3, Guernsey's financial services regulator also approved 19 new investment funds. Of these, 14 were closed-ended funds, two were open-ended funds, and the remaining three were non-Guernsey open-ended schemes.
The new additions bring the total number of funds that are now approved for domiciling or servicing in Guernsey to 1,045.
Independent statistics from the stockbroking and investment management sector covering the period leading up to the end of June 2015 declared the total gross assets under management in Guernsey to be £148.9bn.