Guernsey’s fund industry has enjoyed a positive second quarter of the year with assets under management and administration in Guernsey’s fund sector continuing to grow.
The net asset value of funds under administration rose 5.2% to £276 billion at the end of June. Non-Guernsey schemes were responsible for the majority of this increase, which is evidence of the strength, sophistication and substance of the fund industry in Guernsey – managers of funds established in other jurisdictions choosing to have at least one element of the service provision undertaken here.
Paul Smith, Chairman of GIFA commented that, “Alongside service, we have a number of other strengths which give us a competitive advantage in the global funds industry such as our stability, security and ability to specialise in niche markets where we are leaders. We also continue to build on our reputation for innovation with one example being the recent development of the Guernsey Green Fund.”
Paul added that, “A total of 16 new Guernsey funds being approved by the GFSC in the quarter, together with 10 new non-Guernsey schemes, demonstrating that Guernsey continues to be recognised as a global finance centre and the fact that new funds continue to be attracted to the island is highly encouraging”.Back to all News