Research ‘shows industry is centre of excellence’

GUERNSEY has demonstrated its resilience, finance industry chiefs have said in response to the Monterey Insight research into the funds sector.

Dave Sauvarin, country head, Channel Islands, Northern Trust, said: ‘The Guernsey fund industry has demonstrated its resiliency and stability throughout the challenges of Covid-19, supporting leading fund managers to launch, grow and evolve their assets under management.

‘Guernsey combines a stable funds infrastructure with innovative, swift-to-market solutions for alternative investment funds aligned to evolving investor

needs, such as the focus on sustainable investing.

‘As Guernsey’s largest fund administrator, custodian and transfer agent, Northern Trust is pleased to be at the centre of this growth through our solutions-led approach for our clients across the globe.

Tony Corbin, director at PwC Channel Islands, who leads on clients and markets strategy in Guernsey, said: ‘It is a brilliant achievement that we have retained our leading position yet again as the largest auditor of Guernsey serviced funds, as well as taking the top position in the ranking by assets.

‘In these particularly testing times, Guernsey has demonstrated its resilience, capabilities and adaptability and continues to have a thriving investment management industry, being well-recognised as a global centre of excellence for investment funds, providing appropriate structures, a robust regulatory environment and first-class professional services.

Ben Morgan, partner and head of Carey Olsen’s corporate and finance group in Guernsey, said: ‘These are extremely positive results for Guernsey, with the year-on-year rise in AUM [assets under management] and funds serviced in the island showing just how compelling a proposition Guernsey continues to be for fund managers – especially in private equity

where Guernsey’s expertise is second-to-none.

‘Carey Olsen has continued to retain its position as the leading adviser to funds domiciled and administered in the island, and we are delighted to have advised over two-thirds of the funds added to the report for the first time. This is a strong reflection of the experience, expertise

and commitment of our investment funds team.’

Karine Pacary, managing director of Monterey Insight, said: ‘Guernsey continued to deliver strong returns despite the uncertainty at the beginning of the year around Covid-19. In this difficult and volatile time, Guernsey managed to strengthen last year’s good results and attract new business.

‘This year’s result demonstrates again that the Guernsey fund industry is a centre of excellence for private equity and alternative funds supported by the trust and professionalism of its service

providers and the quality of its regulatory body.’

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