The total value of funds business in Guernsey grew by £8.7
billion (3.3%) during the first quarter of the year.
New figures from the Guernsey Financial Services Commission (GFSC)
show that the first quarter growth follows a drop of just more than
£10 billion in the final quarter of last year and has taken
the total net asset value of funds under management and
administration in the Island to £270.1 billion at the end of
March 2012.
This represents growth of £6.4 billion (2.4%) year on
year.
Fiona Le Poidevin, Deputy Chief Executive of Guernsey Finance
– the promotional agency for the Island's finance
industry, said: "It is very pleasing to see that the
depreciation in the value of our funds business during the final
quarter of last year was almost completely recovered during the
first three months of 2012. Looking at the figures, we can see that
there was an increase in fund values across the board but the vast
majority of the growth can be attributed to a
