Guernsey funds growth could continue, says Ogier lawyer as value approaches a quarter of a trillion

Funds figures that show the net value of funds under management and administration in Guernsey has reached nearly a quarter of a trillion pounds have been welcomed by Ogier investment funds specialist Bryon Rees.

Statistics from the Guernsey Financial Services Commission show the 12-months leading up to June saw a 12.3% increase in the net asset value of all funds under management and administration to £247.1 billion.

Bryon said that a combination of factors and positive news, including some large launches and the birth of the manager-led product had all played their part in the healthy figures – adding that all the indications were that the growth now running for four consecutive quarters would continue.

He said: "We have seen increases across a range of activity including closed-ended and open-ended funds managed here, and non-Guernsey schemes.

"Again we're looking at a set of healthy figures reflecting confidence in the island, and that's what we'd expect to see after the positive ESMA passporting verdict."