The net asset value (NAV) of funds domiciled in Guernsey is at its highest ever level following a 20% increase over the course of a year.
This is according to the latest figures from the Guernsey Financial Services Commission (GFSC).
The regulator’s most recent update for Q2 2021 confirmed that the NAV increased in sterling terms by £9 billion over the quarter, and by £45.8 billion between the end of Q2 2020 and the end of Q2 this year.
The figure has increased every quarter since the end of March 2020, and We are Guernsey Chief Executive Rupert Pleasant said the latest results show confidence in Guernsey’s funds industry.
“This increase has continued despite more than a year of disruption due to Covid-19, and is living proof that Guernsey is a leading specialist centre for the domiciling of funds,” he said. “Our offering of continuity, stability, resilience and global market access in a time of global uncertainty is clearly resonating strongly with investors.
“It also demonstrates the quality of investment managers in Guernsey delivering value to investors.
The latest statistics also show that funds designated Guernsey Green Fund status has now hit double figures, with 11 in total with a NAV of £3.9 billion at the end of June 2021, but the GFSC’s website confirms that the total is now up to 14.