Funds under management and administration in Guernsey have reached a new high of more than £140bn, following the introduction of a registered regime for closed-ended investment schemes.
Figures from the Guernsey Financial Services Commission (GFSC) show funds under management and administration reached £140.4bn at the end of March, an increase of £10.2bn (7.8%) from the £130.2bn recorded at the end of 2006 – the previous high – and a rise of £29bn (26%) year on year. The registered closed-ended investment funds regime has been in operation since 1 February and eight such funds received consent in the two months to the 31 March, with a further 10 following suit so far in the period since. The regime shifts the burden of responsibility for reviewing the promoter and the inve...
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
