Report will show fund sector benefit

Frontier Economics has been appointed by Economic Development to do the review.

Guernsey is a leading conduit for overseas investment, into the UK, from European and international investors, as well as facilitating access for UK investors into global assets.

In September 2019, the net value of total funds under management and administration in Guernsey was £286.1bn.

‘I am delighted that Frontier Economics has been appointed to undertake this important project, so that we can more fully understand the economic benefits of Guernsey’s funds sector, and identify key trends for future opportunities,’ said committee president Deputy Charles Parkinson.

‘This collective piece of work will highlight the significant benefit that the sector has to the UK, Continental Europe and the rest of the world.’

Christopher Jehan, chairman of the Guernsey Investment & Funds Association, said: ‘Our association is very supportive of the work to be undertaken, and we encourage our members to engage with Frontier Economics in providing the information necessary to produce this report.

‘We are hopeful that the report will assist us in proving the benefit of our sector in key markets and that this will assist us in increasing international access for our products and services, and ultimately increase the economic benefit our sector provides to Guernsey.’

Guernsey Finance chief executive Dominic Wheatley said: ‘We often talk about the synergy between Guernsey and the City of London and our role in facilitating international capital flows. This report will help explain and quantify the role of our funds industry in channelling capital efficiently, and complementing the work of the City in funding key investments in areas such as environmental and social infrastructure globally.’

The report is expected to be delivered in January.

. Frontier Economics is the largest specialist microeconomics firm in Europe. It has worked widely in Guernsey, including on sector and economic strategies.