Growth in Guernsey

Figures from the Guernsey Financial Services Commission (GFSC) show that, at the end of September 2015, the net asset value of all funds under management and administration in the Island stood at £224.8 billion. The total value of funds business in Guernsey thus grew by £4.9 billion (2.2 percent) during the third quarter of the year.

Guernsey closed-ended funds increased by £2.9 billion (2.1 percent) to £138.4 billion. Guernsey open-ended funds increased in value by £0.3 billion (0.8 percent) to £39.4 billion. Non-Guernsey schemes – open-ended funds that are not domiciled in Guernsey but have some aspect of their management, administration or custody carried out in the Island – also increased in value by £1.7 billion (1.3 percent) during the third quarter to reach £47 billion.

Dominic Wheatley, chief executive of Guernsey Finance, described the figures as an endorsement of Guernsey as a jurisdiction for the administration of a diverse range of funds. He added that they further illustrate the current strength of the sector with a number of positives at play in recent months, such as VinaCapital’s announcement in October that it is migrating the domicile of its Vietnam Opportunity Fund from the Cayman Islands to Guernsey.