Guernsey Funds Industry Assets Increase By $20 Billion

Guernsey's fund servicing industry has grown by nearly 18% to reach $143.4 billion in net assets over the year to 30 June 2005, according to Lipper Fitzrovia's latest Guernsey Fund Encyclopedia. Last year's total was $121.6 billion. Assets invested in

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Guernsey’s fund servicing industry has grown by nearly 18% to reach $143.4 billion in net assets over the year to 30 June 2005, according to Lipper Fitzrovia’s latest Guernsey Fund Encyclopedia. Last year’s total was $121.6 billion.

Assets invested in private equity/venture capital funds now stand at $49.8 billion domiciled on the Island. Further, of new funds launched over the year, European private equity/venture capital funds attracted the largest proportion of assets ($8.3 billion).

For fund administration services of domiciled and non-domiciled funds, International Private Equity Services (IPES) is the largest administrator by total net assets ($26.0 billion). Northern Trust is second in terms of fund assets ($24.9 billion) and ranked first by number of funds (206 funds).

Royal Bank of Canada maintains its lead among custodians, servicing $17.2 billion assets. Northern Trust ($13.4 billion) and IPES ($9.6 billion) are the next largest.

Among professional firms, KPMG is the largest auditor of Guernsey serviced funds, auditing 348 funds. For legal advisers, Carey Olsen now offers legal advice to 553 funds, with Ozannes following in second place with 424 funds.

The largest promoters of funds domiciled on the Island, by assets under management, are Apax Partners (US$ 12.8 billion), Financial Risk Management (FRM) (US$ 12.3 billion), and Permira (US$ 11.5 billion).

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