The independent fund research company further reported that the industry continues to be dominated by private equity and venture capital funds – nearly nine of every 10 funds launched through Guernsey are in this sector.
‘New business activity remained robust, while major asset classes such as private equity and venture capital posted significant increases,’ said managing director of Monterey Insight Karine Pacary.
‘Guernsey’s fund industry delivered strong double-digit growth in the year to June 2025, with total assets serviced reaching $592bn.
‘Leadership across service providers reflects the continued depth and resilience of Guernsey’s funds industry. These results reinforce Guernsey’s position as a leading jurisdiction for private market investment strategies.’
The new launches reflected the dominance of private equity and venture capital in the investment sector locally, now boasting a total value of more than $450bn. The second strongest sector in the island remains alternative investment funds, valued at $60bn.
This is a pattern mirrored within Guernsey-domiciled funds too, where private equity and venture capital assets totalled almost $350bn, compared to $54.5bn in alternative investment assets.
Together, all 159 newly launched funds and sub-funds contributed a total of $29.6bn to the island’s assets pool.
Meanwhile, green funds saw a 7% decrease in assets compared with last year, reducing their total assets to $6.7bn, though a further $7.6bn was invested in sustainable and ESG-focused funds outside the regulated Green Fund regime.
Monterey Insight also ranked the industry professionals in the sector for their market share as administrators, with Northern Trust once more ranking as market leader after being overtaken last year by Aztec Group, with $119.6bn in total net assets next to Aztec’s $109.1bn.
Apex Group ($76.4bn) retained its third-place position from last year, ahead Apax Partners ($63.2bn).
The report released a similar list ranking market share as custodians, with all four of the serviced funds which ranked as top administrators also ranking as the top four custodians.
‘Northern Trust is proud to be at the forefront of Guernsey’s fund industry as the leading administrator, custodian and transfer agent by total net assets,’ said Dave Sauvarin, head of Northern Trust, Channel Islands.
‘This recognition highlights our team’s commitment to building strong client partnerships and providing comprehensive solutions across the investment fund life cycle. Over the past 12 months, we’ve been delighted to contribute to Guernsey’s overall fund industry growth.’
Monterey Insight’s report also ranked the top auditors on the island, with PwC placing first in both the ranking based off number of funds (483), and that based off total net assets ($172bn). KPMG was ranked second in both, with Deloitte placing third by number of funds, and EY placing third by total net assets.
‘As Guernsey continues to assert its position as a premier fund domicile, these results underline the island’s enduring appeal as a global centre for private equity and alternative investment structures,’ said PwC Channel Islands partner and Guernsey office leader Roland Mills.
‘The continued confidence shown by managers and investors alike reflects the strength, depth, and resilience of the jurisdiction – and we remain steadfastly focused on providing innovative solutions and sustaining strong partnerships that bolster the growth and stability of our clients’ initiatives.’
Carey Olsen continues to dominate the legal market for funds, followed by Mourant and Ogier.
The firm advised on more than 1,000 funds in the year ending June 2025 – a hefty 896 more than its top market competitor for funds.
‘Advising on the vast majority of new Guernsey fund launches and more than two-thirds of all Guernsey-domiciled funds is no small feat, reflecting both the breadth of our expertise and the trust that clients continue to place in us,’ said Christopher Anderson, partner in Carey Olsen’s investment funds team.
‘Each year, Guernsey continues to evolve as a leading international funds jurisdiction, and we are pleased to play a central role in supporting this growth.’
Monterey Insight has also launched a new analytics platform for the Guernsey funds eco-system, delivering data and market share insights including private assets, new fund launches and business won within a single interface.
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