Subscribe now & get informed!
Browse by Categories
News Details
* Guernsey Fourth Quarter 2007 Investment StatisticsWithin these totals, Guernsey domiciled open-ended funds grew by £4.2 billion (6.4%) over the quarter and by £12.6 billion (22.2%) over the year as a whole to reach a new record total of £69.2 billion. The Closed-end fund sector also saw significant growth, with increases of £8.8 billion (13%) over the quarter and £27.9 billion (57.5%) over the year as a whole, to reach £76.4 billion, also a new record.
Non-Guernsey schemes, for which some aspect of management or administration is carried out in the Bailiwick, increased by £757 million (2.4%) over the quarter and by £7.5 billion (30%) over the year to reach a new high of £32.6 billion.
In the year to 31 December, a total of 80 Qualifying Investor Funds were approved and a further 82 Registered Closed-ended Investment Funds had received consent. Since 31 December a further 10 Qualifying Investor Funds and 7 Registered Closed-ended Investment Funds have received authorisation or consent under these regimes.
Since inception of the QIF regime in February 2005, a total of 183 QIF vehicles have received consent or approval. Since the introduction of the Registered Closed-ended Investment Fund regime in February 2007 a total of 89 Registered Closed-ended Investment Funds have received consent under that regime.
Peter Moffatt, Director of Investment Business at the Guernsey Financial Services Commission, said:
“New fund approvals ran at record levels during 2007. These figures are evidence, despite global market turbulence, of continuing confidence in the Guernsey investment fund sector
The Qualifying Investor Fund and Registered Closed-ended Investment Fund Regimes continue to be extensively used by local firms to service the needs of their fund promoter clients”.