Closed-end funds buck falling trend in Guernsey

clock

Guernsey funds under management and administration fell by £5.8bn during the third quarter of 2008, according to the latest statistics released by the island.

The figures represent a 2.8% drop and take the total value of funds in Guernsey to £201.4bn. The total value of closed-ended funds domiciled on the island actually rose by 1.3% - up £1.1bn to £85.9bn. But this was offset by an £8bn drop in open-ended funds, down 10.8% to £65.7bn. The drop was blamed on global market conditions, although Peter Niven, chief executive of GuernseyFinance, admitted that the figures could get worse: “The statistics are to the end of September and therefore don’t take into account the effect of further asset falls we have seen across the world during October,” h...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •