Guernsey says no room for complacency


The latest Guernsey fund figures represent a year on year rise of 1.6% but the second consecutive quarterly drop in the value of the island's fund business following eight straight quarters of growth.

Statistics from the regulator, the Guernsey Financial Services Commission (GFSC), show that the net asset value of funds under management and administration in Guernsey decreased by £10.2 billion (3.7%) during the final quarter of last year. Commenting on the figures, Chief Executive of Guernsey Finance, Peter Niven, said: "Taking 2011 as a whole, there was actually growth in the value of funds business in Guernsey. This is very positive, especially considering the investment climate, but we have to be aware that after strong growth in the first six months of the year to reach a record ...

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