Guernsey Reports Investment Sector Growth
Tuesday, September 06, 2011
The net asset value of total funds under management and administration in Guernsey grew by GBP10.8bn (USD17.5bn) to GBP274.5bn, to end the second quarter up 4.1%, according to statistics from the Guernsey Financial Services Commission. This increase represents an increase of 22.5% in net asset values since June 30, 2010.
Within these totals, Guernsey-domiciled open-ended funds increased by GBP1.475bn (2.6%) over the quarter to GBP59bn. This represents an increase of GBP5.7bn (10.7%) over the year since June 30, 2010. The closed-ended sector also saw growth over the quarter, with an increase of GBP7.5bn (6.5%) to reach GBP122.3bn. This represents an increase of GBP28.3bn, or 30.1%, year on year.
Non-Guernsey schemes - for which some aspect of management, administration or custody is carried out in the Bailiwick - increased by GBP1.9bn (2.1%) over the quarter to GBP93.1bn. Year-on-year the net asset value of this sector has increased by GBP16.2bn or 21.1%.
At the end of Q2 2011, the gross asset value of Guernsey open-ended funds was GBP70.7bn, implying an average gearing level of 19.7%. The gross asset value represents an increase of some GBP1.3bn since March 31, 2011. In the closed-ended sector, the gearing level is slightly lower, with gross asset values of GBP139.7bn implying a gearing level of 14.2%. The gearing implicit in non-Guernsey open-ended collective investment schemes is approximately 9.1%, based on gross asset values of GBP101.6bn. |
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