The Guernsey funds industry saw net asset values of total funds under management and administration in the last quarter increase by 3.3% to reach 270.1 billion.
The latest figures from the Guernsey Financial Services Commission reveal that for the year since March 31 2011, total net asset values increased by 6.4 billion (2.4%). The recovery of the majority of the previous quarters decrease of approximately 10 billion can be attributed to a number of closed-ended funds and non-Guernsey schemes launching during the quarter, said the
Within these totals, Guernsey domiciled open-ended funds increased by 0.5 billion (0.9%) over the quarter to reach 55.8 billion. This represents a decrease of 1.8 billion (-3.1%) over the year since March 31 2011. The closed-ended sector increased over the quarter, by 4.8 billion (4%) to reach 123.9 billion. This represents an increase of 9.1 billion (7.9%) over the year since March 31 2011. Non-Guernsey schemes, for which some aspect of management, administration or custody is carried out ion the Island, increased by 3.4 billion (3.9%) over the quarter to 90.4 billion. Since March 31 2011 the net asset value of this sector has decreased by 0.8 billion (-0.9%).
(JDC)