First-quarter growth in fund values is best for four years

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GUERNSEY funds have started 2017 with their best growth for a quarter in four years.

The net asset value of funds under management and administration in the island grew by £10.6bn (4.1%) over the quarter – the highest margin of growth since the first quarter of 2013, when funds grew by £19.7bn.

Over the past year, total net asset values increased by £28.6bn (12%), according to figures from the Guernsey Financial Services Commission.

The statistics also build on six straight previous quarters of growth to take the total value of funds business in Guernsey to £266.5bn at the end of March.

This marks the longest continued period of increased value in nearly six years, when June 2009 to June 2011 reached eight straight quarters of growth.

'It is extremely positive to see that Guernsey funds continue to offer an attractive investment proposition in these uncertain times,' said Darren Bacon, pictured, partner and funds specialist at law firm Mourant Ozannes.

'The listed funds sector remains active, with infrastructure and other yield-producing asset classes remaining popular in the current low, or no, interest rate environment. This year has also seen a number of new private equity funds successfully raising significant capital from investors.'

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