Originally published under the title 'Guernsey's
esoteric tradition' in Funds Europe, September
2008
This time last year the fund industry in Guernsey was
'booming'. Since then, there have been major changes in
the world's economy, most notably the sub-prime crisis and
its fallout. However, while activity is not quite as frenetic
as pre-'credit crunch', business flows have remained
robust, well into 2008. The value of funds under management and
administration reached a record £207bn at the end of June
2008 – up 1.7% over the quarter and 33% year on year.
Growth Trends
This success is in part due to the diversity of the
Island's offering but primarily these figures show that
promoters, sponsors and managers are viewing the Island as a
jurisdiction of choice for their business. Traditional funds
remain well represented among these flows. However, the major
growth continues to be in
