Guernsey’s financial services regulator approved 18 new investment funds during Q2 2015, resulting in a total of 112 additions so far this year.
Figures from the Guernsey Financial Services Commission (GFSC) also shows that the net asset value of all fund under management and administration in Guernsey fell by £23 billion (-1 percent) during Q2 to £219.9 billion.
The value of deposits held by banks in Guernsey increased by £0.2 billion (0.2 percent) during the same period to reach £83.6 billion, representing a rise of £6.1 billion (8 percent) year-on-year.
Dominic Wheatley chief executive of Guernsey Finance, said: “The number of new approvals over the past 12 months shows that Guernsey remains an attractive destination for funds.”
“The small increase seen in the banking deposits is similarly encouraging, particularly as it is yet another quarter of solid performance over the past 12 months.”
The 18 new investment fund approved by the GFSC between the start of April and the end of June comprised 14 closed-ended funds and four non-Guernsey open-ended schemes, meaning the total number of funds currently approved for domiciling or servicing in Guernsey stands at 1,044.
Guernsey closed-ended funds increased by £500 million (0.3 percent) to £135.5 billion and Guernsey open-ended funds decreased in value by £2 billion (-4.9 percent) to £39.1 billion.
Non-Guernsey schemes decreased in value by £900 million (-2 percent) during Q2 to reach £45.3 billion.
Data from the investment management and stockbroking sector, for the period up to the end of March 2015, confirmed total gross assets under management in Guernsey of £116.4 billion, a rise of £7.4 billion (6.8 percent) over the quarter.
