The Guernsey Financial Services Commission has released investment statistics for the first quarter of 2018. Some of the highlights include:
• Investment funds – The net asset value of total funds under management and administration has decreased in sterling terms over the quarter ended 31 March 2018 by £7bn (-2.9 per cent) to £263bn. For the year since 31 March 2017, total net asset values decreased by £5bn (-1.5 per cent).
• Open-ended funds – Within the totals above, Guernsey domiciled open-ended funds decreased by £1.67bn (-3.8 per cent) over the quarter to £41.8bn. This represents a decrease of £2.1bn (-4.8 per cent) over the year since 31 March 2017.
• Closed-ended funds – Increased over the quarter by £1.39bn (0.84 per cent) to £167.8bn. This represents an increase of £3.5bn (2.15 per cent) over the year since 31 March 2017.
• Non-Guernsey schemes – These schemes, for which some aspect of management, administration or custody is carried out in the bailiwick, decreased by £7.6bn (-12.5 per cent) over the quarter to £52.8bn. Since 31 March 2017, the net asset value of this sector has decreased by £5.5bn (-9.43 per cent).
• Gross asset values and gearing – The gross asset value of Guernsey open-ended funds as at 31 March 2018 was £56.3bn, implying an average gearing level of 29 per cent. The gross asset value represents an increase of £1bn since 31 December 2018.
In the closed-ended sector, the gearing level is lower, with gross asset values of £182.3bn (December 2017: £185bn), implying a gearing level of 8.28 per cent. The gearing implicit in non-Guernsey open-ended collective investment schemes is approximately 0.37 per cent, based on gross asset values of £53bn (December 2017: £60.7bn).
The detailed statistics are available here