Frontier Economics has been appointed by the States of Guernsey to analyse the economic benefits provided by the Guernsey funds sector to the UK, continental Europe and the rest of the world.
Guernsey is seen as a leading conduit for overseas investment into the UK, from European and international investors, as well as facilitating access for UK investors into global assets. In September 2019, the net value of total funds under management and administration in Guernsey was £286.1bn.
The report will provide an opportunity to understand the value of the sector internationally and to identify trends within the same.
Frontier Economics, one of the largest specialist microeconomics firms in Europe, has worked widely in Guernsey, including on sector and economic strategies. As part of this work, it will engage with industry associations, fund administrators and investment managers to collect data and qualitative views on the sector.
The Committee for Economic Development is confident the report, which is expected to be delivered in January 2020, will be of significant benefit to the finance industry and its role in maintaining and enhancing Guernsey's position as a key international finance centre.
Christopher Jehan, Chair of the Guernsey Investment & Funds Association, said: "We encourage our members to engage with Frontier Economics in providing the information necessary to produce this report. We hope the report will assist us in proving the benefit of our sector in key markets and that this will assist us in increasing international access for our products and services, and ultimately increase the economic benefit our sector provides to Guernsey."
Dominic Wheatley (pictured), Chief Executive of Guernsey Finance, added: "We often talk about the synergy between Guernsey and the City of London and our role in facilitating international capital flows. This report will help explain and quantify the role of our funds industry in channelling capital efficiently, and complementing the work of the City in funding key investments in areas such as environmental and social infrastructure globally."