Funds under management and administration in Guernsey increased by nearly £10bn in the final quarter of 2006, with a new record high of more than £130bn.
Peter Niven, chief executive of GuernseyFinance, said: “This is absolutely fantastic news. This massive influx of new business during the final quarter of last year reflects how fund promoters and sponsors view Guernsey as a jurisdiction of choice for conducting funds business.
"Setting another new high on the back of consistent growth that has taken us to new record levels throughout 2006 caps a tremendous year for Guernsey’s funds industry and demonstrates the strength of the product we have on offer, including quality service providers, pragmatic regulation and an ‘open for business’ attitude. Guernsey’s fund industry is booming.”
Slow progress in improving diversity
Share purchase deal with assets of £28m
Came into effect in January
Three examples of compensation rule issues
Buying in baskets