For the first time, Guernsey funds surpass £300 billion
For the first time, the net asset value (NAV) of Guernsey funds has surpassed £300 billion.
According to the Guernsey Financial Services Commission (GFSC), the island's regulator, the NAV for funds domiciled in Guernsey was £303.6 billion at the end of December 2021, an increase of £58.1 billion (23.7 percent) over the previous year.
Since the end of Q2 2020, the NAV has increased every quarter, and the total number of funds, at 843, is at its highest level in nearly ten years.
According to the statistics, schemes with Guernsey Green Fund status have a NAV of £4.4 billion, which is the highest level to date.
"With an all-time high NAV and the consistent increase in funds domiciled in Guernsey, these figures show excellent confidence in our funds industry and demonstrate that we have both quality and quantity on the island," said Rupert Pleasant, chief executive of 'WE ARE GUERNSEY.' "The island's commitment to the sustainable finance sector a few years ago is also vindicated by the increasing value of Guernsey Green Funds. Guernsey is a world-leading financial centre, providing security, stability and substance, with an exceptional level in quality of investment managers who deliver expertise and value to investors."
The GFSC had previously confirmed that the NAV of funds had reached an all-time high at the end of Q2 2021.
Since 2008, Guernsey's assets under management have more than doubled.
There were many contributing variables, according to Jo Peacegood, Chair of the Guernsey Investment & Funds Association, and the figures pointed to a bright future.
She declared, "We are a force to be reckoned with,"We have top-class service providers with great depth of experience, an enviable client list, a stable government and an approachable regulator who is willing to engage with industry. We have speed to market like no other jurisdiction and we have many people working tirelessly to make this industry the best it can be."
By fLEXI tEAM