Jersey poised to go ahead in funds value

The year-end figures for Guernsey funds under management and administration in the sector were up £2.7bn (1.2%) over the fourth quarter of the year and £8.2bn (3.7%) year-on-year to reach £227.6bn.

Jersey's statistics revealed a £7bn increase over the quarter – though a £3bn loss year-on-year – to £225.8bn in regulated funds under administration.

The Guernsey Financial Services Commission approved 27 new investment funds during the fourth quarter – 21 closed-ended funds, four open-ended funds and two non-Guernsey open-ended schemes, meaning the total number of funds currently approved for domiciling or servicing in Guernsey stands at 1,012.

The value of the closed-ended sector was up by nearly £5m. (3.5%) over the year while the open-ended sector, long under pressure, was fairly static, down to £39bn, a drop of 1.8%.

Non-Guernsey schemes – open-ended funds that are not domiciled in Guernsey but have some aspect of their management, administration or custody carried out in the island – increased in value by £1bn (2.1%) during the fourth quarter to reach £48bn, an increase of £4.1bn (9.3%) for the year up to the end of December.

In Jersey's fourth quarter, the total number of regulated collective investment funds increased by nine to 1,320, and the island also has 126 active unregulated funds.