Gifa optimistic over funds future
Thursday 19th September 2013, 10:00AM BST.
A DECLINE in funds under management in Guernsey over the second quarter of the year is not an indication of the health of the industry, according to the chairman of the sector association.
The net asset value of funds under management and administration locally fell £10.5bn (3.5%) to £286bn over the period.
But the figure is still 5.6% up on what it was in June 2012 and Vic Holmes, chairman of the Guernsey Investment Funds Association, (pictured) sees healthy signs.
‘Gifa remains optimistic about the long-term future of the Guernsey funds industry, while recognising there can be no room for complacency,’ he said.
‘It is my view that the funds industry is pulling together like never before and such a collegiate approach will help us to cope with any future headwinds and ultimately flourish.’