Press release from We Are Guernsey on Wednesday, March 9, 2022.
The net asset value (NAV) of Guernsey funds has surpassed £300 billion for the first time.
According to the latest figures from the Guernsey Financial Services Commission (GFSC), the island’s regulator, the NAV for funds domiciled in Guernsey stood at £303.6 billion at the end of December 2021, a £58.1 billion (23.7%) increase over 12 months.
The NAV has increased every quarter since the end of Q2 2020, and the total number of funds, standing at 843, is also at the highest level for nearly 10 years.
The statistics also show that schemes designated Guernsey Green Fund status have a NAV of £4.4 billion which is, again, the highest level to date.
WE ARE GUERNSEY Chief Executive Rupert Pleasant said: “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.
“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 an all-time high in the NAV of funds at the end of Q2 2021.
Assets under management in Guernsey have doubled since 2008. Guernsey Investment & Funds Association Chair Jo Peacegood said there were many contributing variables, and the figures signaled a positive future.
“We are a force to be reckoned with,” she said. “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.”
The full breakdown of the latest fund statistics are available on the GFSC’s website.