Of these, 18 were added in the second quarter, during which banking deposits also grew by £200m.
According to the Guernsey Financial Services Commission (GFSC), the new funds included 14 closed-ended funds and four non-Guernsey open-ended schemes, bringing the total number currently approved for domiciling or servicing from the island to 1,044.
That said, 27 funds were lost during the quarter – either delisted or wound up. These comprised five open-ended funds, seven closed-ended and 15 non-Guernsey schemes.
According to the GFSC, market falls may have also contributed to the £2.3bn decline in the net asset value of funds under management, bringing the figure to £219.9bn over the quarter.
Dominic Wheatley, chief executive of Guernsey Finance said the new approvals indicated the jurisdiction still held appeal for fund groups.
He said: “This is particularly the case when considered alongside recent announcements [including] Guernsey extending market access to EU alternative investment fund managers and alternative investment funds doing business in Guernsey, which itself followed the ESMA’s advice to the relevant European authorities in July that the EU AIFMD passport should be extended to Guernsey.”
