Bounce-back sees funds sector post a sixth quarter of growth
Tuesday 8th March 2011, 2:30PM GMT.
INVESTMENT fund business in Guernsey has grown in value for the sixth quarter in a row to £257.4bn.
The £14.3bn increase during the final quarter of last year represents a new record high for the island and a rise of £73.2bn compared with the end of December 2009.
GuernseyFinance chief executive Peter Niven (pictured) said it was pleasing to see the sector move past the £250bn mark.
‘Our funds industry has bounced back very well from the global financial crisis and, in recording six consecutive quarters of solid growth, we have clearly outstripped some of our closest competitors.’
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