The Guernsey Financial Services Commission (GFSC) approved four open-ended funds, 14 closed-ended funds and eight non-Guernsey schemes between the start of January and the end of March.
Chief executive of Guernsey Finance, Fiona Le Poidevin, said she was encouraged by the noticeable increase in approvals throughout 2013 and the start of 2014.
“Since the end of the first quarter, there have also been a number of other fund launches, ranging from repeat promoters such as HitecVision to new managers such as Fair Oaks Capital.
“This shows that Guernsey’s popularity as a centre for fund domiciling and servicing continues to grow as we approach the full implementation of the Alternative Investment Fund Managers Directive.”
The net asset value of Guernsey funds under management and administration also grew by £1.2bn in the first quarter to £179.1bn.
But the GFSC figures also show that the net asset value of all funds under management and administration in Guernsey fell by £1.8bn to £264.2bn during the period.
In February, Guernsey passed draft legislation which introduced limited liability partnerships (LLPs) for the first time. LLPs came into force last month and hedge fund manager BlueCrest was the first to register.
Experts at the time said the LLP structure was introduced in response to demand by companies looking to set up in the jurisdiction.
