The value of funds under management and administration in Guernsey reached £207.2bn at the end of June 2008, an increase of £3.4bn (1.7%) over the quarter and £51.6bn (33%) year on year, despite turbulent market conditions.
Jersey still has £39.6bn more funds under management and administration than its neighbour, though the total fell over the quarter, according to Peter Niven, chief executive of Guernsey Finance. The value of Jersey’s funds business shrank by £1.8bn (0.7%) during Q2, to reach £244.2bn at the end of June. However, this is a rise of £33.8bn (16%) since the end of June 2007. At that time Jersey had £54.8bn more funds under management and administration than Guernsey, but one year on the gap has narrowed to £36.9bn, according to Niven. Niven said: “We thought our performance was strong consid...
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