Postcard From Guernsey: Wish You Were Here

Originally published in International Investment, 1 May 2009

Greetings from Guernsey!

I am not one for being overly negative but I think it is fair to describe the global economic conditions as gloomy. What has surprised many is the scale and pace of the descent since the previous sunny heights. Guernsey has not been completely immune from these pressures however so far we have been able to shelter from the full force of the storm.

For example, in 2007 the number of funds grew by 19% and the value of funds by 37% but last year this was tempered at 8% and 12% respectively as the changed global economic picture came increasingly into play to leave total funds business in Guernsey at just over £200bn by the end of 2008.