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Eight quarters of growth in funds sector

Business | Published:

GUERNSEY’S funds business has now seen two years of quarterly growth.

Guernsey Finance chief executive Dominic Wheatley. (Picture by Adrian Miller, 19360511)

Statistics to the end of June have finally been released showing that the value of funds business in the island grew by £4.5bn (1.6%) during the second quarter of the year, taking the net asset value of all funds under management and administration in Guernsey to £271bn.

The rise over the past 12 months was £23.9bn (9.6%)

‘The figures demonstrate the solidity and stability of our funds industry and the continuing attractiveness of Guernsey as a funds centre,’ said Guernsey Finance chief executive Dominic Wheatley.

‘Eight consecutive quarters of growth shows that the funds sector in Guernsey remains buoyant, while the introduction of new Guernsey structures such as the private investment fund and the manager-led product shows that we will not rest on our laurels.

‘The PIF has been particularly well received, with seven funds using the regime since its launch in November last year, and we expect that number to increase as we approach its first anniversary.’

The last time the island saw a drop in the value of funds business was June 2015.

Full story in today's Guernsey Press

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