The total net asset value (NAV) of Guernsey funds at the end of the quarter stood at £295.7 billion, an increase over the quarter of £3.2 billion (1.1%), according to data from Guernsey Financial Services Commission (GFSC), the regulatory body for the finance sector in the Bailiwick of Guernsey.
Revealing the industry’s growth across Q2 2024 and year to date (released on Oct 30, 2024) , the data has shown that over the past year, total net asset value has increased by £9.7 billion (3.4%).
Within these totals, Guernsey closed-ended funds increased over the quarter by £2.5 billion (1%) to £244 billion and Guernsey open-ended funds increased over the quarter by £0.7 billion (1.4%) to £51.7 billion. This represented an increase of £6.9 billion (2.9%) and £2.8 billion (5.7%) respectively in the past year.
Guernsey’s funds sector also continues to bolster investment into the UK economy, with flows from Guernsey into the UK increasing by 14% year on year since 2020.
Findings from the Guernsey Finance-commissioned Frontier Economics report, released last year, found that Guernsey channels £57 billion of international capital investment from around the world into the UK. This investment aligns with UK policy goals including investments in infrastructure and contributions to net zero goals, according to the provider.
Guernsey-domiciled sustainable funds, which are regulated under the Guernsey Green Fund regime, hold a steady total NAV of £5.1 billion at the end of the quarter.
Guernsey Finance CEO Rupert Pleasant said this underscores Guernsey’s reputation as a safe and stable jurisdiction as well as an innovator ready to embrace the trends and challenges in our rapidly evolving industry. He said: “There is a large and innovative range of fund structures available in Guernsey, with the island offering a pragmatic regulatory environment, global access and a rapid speed to market. It’s clear that during times of volatility, uncertainty and change on the global stage, Guernsey’s long track record and expertise in all aspects of funds management cements our position in the global financial services landscape.”
