Funds sector thrives despite global woes
Monday 20th October 2008, 2:30PM BST.
GUERNSEY’S fund sector continues to prosper despite the economic downturn, according to an independent auditor.
Lipper, a Thomson Reuter company, publishes the annual Guernsey Fund Encyclopaedia, which offers an insight into the island’s market share of global investments.
The latest edition has revealed that the fund servicing industry has grown by 20% to reach US$331.4bn in net assets in the last year.
Last year’s total of US$275.4bn was an increase of 45% on the previous 12 months. Lipper’s Ed Moisson said the island continued to prosper despite the events of the past year.
‘Almost 2,000 funds and sub funds are now serviced on the island. Guernsey’s reputation as a home for more specialist investments, such as private equity and funds of hedge funds, plays a significant part in its success.’
For fund administration services of both domiciled and non-domiciled funds, Northern Trust is the largest administrator with total net assets of US$61.5bn.
- To read Guernsey Press stories in full, click here for subscription details. Individual editions are now available online.
Campaigns
Voice For Victims
Voice for Victims is a campaign aimed at promoting the rights of those affected by child sexual abuse.
This is Guernsey
Guernsey Press
Based on events prior to Landsbanki this report shows eveything is hunky dory. However post Landbanski and, if Obama is elected, it will be interesting if the figures are as good in 12 months time.
I’m no expert but it is my view that this is the start of a decline for Guernsey.
Report abuse
Aden
I rekon it will be a breath of fresh air to start living in the real world anyway.
Humanity has become to greedy, selfish and expectant.
The speed in which things are expected to happen without thought or onsequence to others is a sad place to be in.
A lot of good will result I think.
It will definately shock some, though, for the better in the long term.
Report abuse