Over the twelve months to 30 June 2016, Guernsey’s share of the closed-ended sector grew by some £18 billion to £153.4 billion while Guernsey-domiciled open-ended funds increased by £2.2 billion to £41.3 billion. This growth has been to some extent supported by exchange rate factors since the EU referendum, although the second quarter of 2016 also saw significant new fund launches.
In addition, assets in non-Guernsey schemes (open-ended funds not domiciled in Guernsey but with some aspect of their management, administration or custody carried out in the Bailiwick) increased by £7.1 billion (15.67%) over the same twelve-month period and now stand at £52.4 billion.
Guernsey Finance Chief Executive Dominic Wheatley commented: “We have now enjoyed four consecutive quarters of growth which demonstrates confidence in Guernsey’s fund sector.
“What is equally encouraging is that closed-ended funds, open-ended funds and non-Guernsey schemes have all witnessed a substantial rise in their respective positions compared with the same point in 2015.”