The total value of funds business in Guernsey grew by approximately £20bn over the 12 months to the end of the third quarter of this year, according to figures from the Guernsey Financial Services Commission (GFSC).
At the end of September 2017, the net asset value of all funds under management and administration in Guernsey stood at £269bn – an eight per cent increase on September 2016.
The figures also confirm two consecutive years of growth, with the net asset value of funds growing by nearly £25bn between Q3 2015 and Q3 2016.
The annual increase was largely the result of a growth in Guernsey-domiciled closed-ended funds, which increased by £13.7bn (8.98 per cent) over the year. Guernsey open-ended funds remained stable at £43.9bn.
Non-Guernsey schemes – funds not domiciled in the island but with some aspect of their management, administration or custody carried out there – grew by £7.8bn (15.23 per cent) since 30 September 2016, and are valued at £59bn.
Guernsey’s financial services regulator approved 10 new investment funds during Q3 – six closed-ended funds, one open-ended fund and three non-Guernsey schemes – contributing to a total of 982 funds currently approved for domiciling or servicing in Guernsey.