Total funds under management and administration stood at £224.8bn ($339.3bn, €319.1bn) at the end of September 2015. This marked a reversal from the weakness in the second quarter, where the total net asset value of funds decreased by £2.3bn (-1.04%) to £219.9bn.
Closed-ended funds saw overall net asset value increase £2.9bn (2.1%) in the third quarter to £138.4bn. Open-ended funds increased in value by £0.3bn (0.8%) to £39.4bn, while 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 £1.7bn (1.3%) during the third quarter.
The Guernsey financial services regulator approved 19 new investment funds during the third quarter: 14 closed-ended funds, two open-ended funds and three non-Guernsey open-ended schemes. This brings the total number of funds currently approved for domiciling or servicing in Guernsey to 1,045.
The investment management and stockbroking sector in Guernsey has total gross assets under management in Guernsey of £148.9bn, based on the returns of 157 firms.
Dominic Wheatley, chief executive of Guernsey Finance, said: “This figure demonstrates the health of the investment sector in Guernsey, which when coupled with the latest funds position helps to paint a bright picture .”
He also highlighted recent moves to Guernsey, notably VinaCapital’s announcement in October that it is migrating the domicile of its Vietnam Opportunity Fund from the Cayman Islands.
