“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 (PIF) 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 one-year anniversary.”
The close-ended sector also saw a £2.8 billion (1.8%) increase to £167.2 billion from Q1 to Q2 2017. Year on year, this represents a £13.7 billion (9%) rise.
Non-Guernsey schemes, for which some aspect of management, administration or custody is carried out in the Bailiwick, increased by £1.5 billion (2.6%) over the quarter to £59.9 billion. Since 30 June 2016 the net asset value of this sector has increased by £7.5 billion (14.4%).
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Guernsey Financial Services Commission: Second Quarter 2017