Investment fund statistics for the third quarter of 2018 have been published by the Guernsey Financial Services Commission:
Investment funds
The net asset value of total funds under management and administration has increased in Sterling terms over the quarter ended 30 September 2018 by £4bn (1.4%) to £280bn. For the year since 30 September 2017, total net asset values increased by £11bn (4.1%).
Open-ended funds
Within these totals, Guernsey domiciled open-ended funds increased by £0.4bn (0.8%) over the quarter to £43.6bn – a decrease of £0.3bn (-0.7%) over the year since 30 September 2017.
Closed-ended funds
The closed-ended sector increased over the quarter by £3.9bn (2.3%) to £172.1bn – an increase of £6.1bn (3.7%) over the year since 30 September 2017.
Non-Guernsey schemes
Non-Guernsey schemes, for which some aspect of management, administration or custody is carried out in the bailiwick, decreased by £0.3bn (-0.5%) over the quarter to £64.4bn. Since 30 September 2017, the net asset value of this sector has increased by £5.4bn (9.1%).
Gross asset values and gearing
The gross asset value of Guernsey open-ended funds as at 30 September 2018 was £58bn, implying an average gearing level of 28.3%. The gross asset value represents an increase of £0.8bn since 30 June 2018.
In the closed-ended sector, the gearing level is lower, with gross asset values of £189.3bn (June 2018: £183.7bn) implying a gearing level of 9.5%.
The gearing implicit in non-Guernsey open-ended collective investment schemes is approximately 0.1%, based on gross asset values of £64.5bn (June 2018: £64.8bn).
• The detailed statistics are available here