Guernsey Sees Three Straight Years Of Funds Growth

The total value of funds business in Guernsey has risen again after figures from the Guernsey Financial Services Commission confirmed a growth of £1 billion in the three months to the end of 2017.

The latest figure of £270 billion also represents an increase of approximately £14 billion (5.6%) over the previous 12 months and a third consecutive year of growth for Guernsey's fund sector.

Guernsey's financial services regulator approved 18 new investment funds during Q4 2017, 17 of which were closed-ended and the remaining one open-ended - a big increase of 44.4% on Q3's 10 new funds.

Guernsey Finance Chief Executive Dominic Wheatley was encouraged to see both quarterly and annual growth in the latest figures, particularly seen in a rise in administration being carried out locally for non-Guernsey schemes.