Guernsey's funds under management and administration fell by £1bn (0.5%) in Q4 of last year, but values are up by £22.2bn or 12.5% over the whole year.
Open-ended funds domiciled on the island dropped £2.1bn (3.2%) over the final quarter of last year to £63.6bn, representing a decrease of £5.6bn (8.1%) over the year since 31 December 2007. The drop in the funds' value over the quarter is mainly due to adverse performance of global markets and investors pulling their money from investment funds, according to Guernsey Finance. However, the closed-end fund sector grew by £5.6bn (6.5%) over Q4 and £15.1bn (19.8%) over the year since 31 December 2007 to reach a new record of £91.5bn. This could be attributed to some parts of the sector ho...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
