Guernsey records new high for funds

Professional Adviser
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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...

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