Guernsey's financial services regulator approved 30 new
investment funds during the fourth quarter of last year, which
means that that there were a total of 103 additions during
2013.
Figures from the Guernsey Financial Services Commission (GFSC)
show that 16 new funds were approved during the first quarter of
last year, 24 during the second, 33 during the third and 30 in the
final quarter of 2013.
However, the net asset value of funds under management and
administration fell by £1 billion (0.3%) during the fourth
quarter to £266 billion at the end of December and that
represents a decline of £10.8 billion (3.9%) year on
year.
Fiona Le Poidevin, Chief Executive of Guernsey Finance - the
promotional agency for the Island's finance industry, said:
"The relatively small movement in the quarter signals some
stability and the fact that exchange rate factors were once again
at play highlights the way in which asset values were impacted by
external factors throughout
