Q1 statistics show stability
14 June 2019
New figures from the Guernsey Financial Services Commission reporting on the first quarter (ended 31 March 2019) reflect a negligible change in the net asset value of funds under management and administration (“AUM”) in Guernsey, to £280.4 billion.
Justin Hallett, an executive director of BDO in Guernsey, commented: “The statistics are all presented in GBP and as a result the small movement in AUM is most likely attributed to the strengthening of GBP against USD (~5%) and EUR (~4%), offsetting an increase in an underlying AUM”.
“During the quarter, despite uncertainty around the usual culprits (Trump, trade wars, Brexit etc.), Guernsey has seen a net increase in the number of funds launching in both closed ended and non-Guernsey Schemes as well as the number of licensees.”
“It is comforting that AUM has remained robust and that Guernsey continues to be recognised as a stable jurisdiction in which to operate and thus a major global player in uncertain times.”
“As the numerous political situations in the UK (hopefully!) begin to resolve and create clarity we should see an increase in market confidence which will lead to the current high level of dry powder being deployed.”
For a full overview of growth statistics visit: https://www.gfsc.gg/industry-sectors/investment/statistics