GUERNSEY has been pipped at the post for a prestigious financial services award. The Isle of Man was voted the best international financial services centre at International Investment magazine’s fund and product awards.

Guernsey, shortlisted with Gibraltar, was highly commended for the strength of its offshore fund sector.

Deborah Benn, the chairman of the judges, said: ‘Guernsey gave the Isle of Man a particularly good run for its money this year, but the Isle of Man’s slightly more retail product focus gave it the edge this time.

‘However, the judges recognise the importance of the offshore fund industry and commended Guernsey on its strength in this sector.’

The awards event is largely focused on the life insurance and product end of the fund sector, which is Manx-dominated, and the Isle of Man was declared best centre for the third year in succession.

John Bridle, chief executive of the Guernsey Promotional Agency, which co-ordinated a Guernsey fund- sector presence at the awards, said the island had benefited from the experience.

‘We appreciate that our fund sector does not particularly fit with the main focus of this event, but it did provide us with the opportunity to achieve profile before an audience of many of the UK’s leading intermediaries, fund managers and financial services professionals.’