Guernsey's fund industry defies economic downturn

The increase saw the island’s net assets rise from US$275.4bn to US$331.4bn during the 12 months to 30 June this year. This hike, in the face of global downturn, followed a rise of 45% during the previous 12 months. The figures are revealed in Lipper’s newly published Guernsey Fund Encyclopaedia, which aims to provide a comprehensive breakdown of the respective market shares of auditors, custodians, administrators, lawyers and fund promoters on the island. Northern Trust emerged as the largest administrator with US$61.5bn, and the largest custodian, with US$35.8bn in total net assets. ...