The total value of funds business in Guernsey grew by £8.7 billion (3.3%) during the first quarter of the year, which takes the total net asset value of funds under management and administration in the Island to £270.1 billion at the end of March 2012.
New figures from the Guernsey Financial Services Commission (GFSC) show that the first quarter growth follows a drop of just more than £10 billion in the final quarter of last year and has taken the total net asset value of funds under management and administration in the Island to £270.1 billion at the end of March 2012. Looking at the breakdown, The Guernsey closed-ended sector was valued at £123.9 billion at the end of March – up £4.8 billion (4%) during the first three months of 2012 and up £9.1 billion (7.9%) compared to twelve months earlier. Guernsey domiciled open-ended funds...
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