Guernsey’s fund industry has enjoyed five consecutive quarters of growth, according to the latest figures released this week.
Statistics from the Guernsey Financial Services Commission (GFSC) show that, at the end of September 2016, the net asset value of all funds under management and administration in Guernsey stood at £249.4bn – an increase of £2.3bn (0.9 per cent) since the end of June.
For the year ending 30 September 2016, the total value of funds in Guernsey increased by £24.6bn (10.9 per cent).
Guernsey open-ended funds saw an increase of £4.3bn (10.4 per cent) during the third quarter of 2016 to £45.6bn. This represents an increase of £6.2bn (15.7 per cent) for the year since September 2015.
Guernsey closed-ended funds decreased by £0.8bn (0.5 per cent) to £152.6bn over the course of the quarter but, despite this, the total was still £14bn (10.1 per cent) greater than at the same point in 2015.
Non-Guernsey schemes – funds not domiciled in Guernsey but that have some aspect of their management, administration or custody carried out in the island – now stand at £51.2bn. This represents a decrease of £1.2bn (-2.3 per cent) since the end of June 2016, but an increase of £4.2bn (8.9 per cent) on the same point in 2015.
Funds masterclass
The outlook for raising funds in the post-Brexit environment is the focus of a free-to-attend Guernsey funds masterclass in London on Wednesday 8 February.
The event, at etc.venues St Paul’s, will feature a panel debate among leading figures from the funds industry.
There will be a keynote speech from Louise Harvey OBE, who spent 13 years as a British diplomat working on EU issues in the Foreign and Commonwealth Office. She will share observations on the Brexit politicking and give insights into the process of triggering and implementing Brexit as well as how she sees the Brexit negotiations progressing.
• For further information or to book a delegate place, click here