Guernsey Funds Grow More Than £10 Billion In Q1

The total value of funds business in Guernsey grew by £10.4 billion (4.6%) during the first quarter of the year.

New figures from the Guernsey Financial Services Commission (GFSC) show that, at the end of March 2016, the net asset value of all funds under management and administration in the Island stood at £238 billion - an increase of £15.8 billion (7.1%) on the same point in 2015.

"It is encouraging that our funds business remains robust in difficult trading conditions. The latest figures mark the third consecutive quarter that we have seen an overall increase in the value of funds under management. I am particularly pleased to see a return to positive growth in the open-ended funds sector," said Guernsey Finance Chief Executive Dominic Wheatley