Funds under management and administration in Guernsey grew by 5.7% in the third quarter to stand at £164.5bn.
This translates to an £8.9bn expansion despite the problems in capital markets over the summer, and means Guernsey now looks after 36.5% more funds than at the end of September 2006. Peter Niven, chief executive of GuernseyFinance, said: “It is testament to the robust nature of the Island’s funds industry that as others have struggled during the ‘credit crunch’, despite a dip in our growth, as some funds held back from coming to market, we have nonetheless continued to make exemplary progress.”
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