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Positive year-end figures reflect increased confidence in Channel Islands’ funds sector

Increased confidence in the Channel Islands’ funds sector is reflected in positive year-end figures from both Guernsey and Jersey, says Ogier funds partner Simon Schilder.

The year-end figures for Guernsey funds under management and administration increased by 1.2 per cent to reach GBP2.7 billion over the fourth quarter of 2015 and GBP8.2 billion (3.7 per cent) year-on-year to reach GBP227.6 billion.

Jersey’s statistics revealed a GBP7 billion increase over the quarter – though a GBP3 billion loss year-on-year – to GBP225.8 billion in regulated funds under administration.

Schilder says: “ESMA’s positive recommendation of Jersey and Guernsey for the extension of the marketing passport has had an equally positive effect on both jurisdictions, at a time when investment managers are very much looking to raising money from traditional markets, given uncertainty elsewhere, particularly given the marked slowdown in the Chinese economy.

"While in 2016 the fund raising market is still very much favouring established managers, we have begun to see some new managers coming through again and successfully raising their first funds".

Recent figures released by the Guernsey Financial Services Commission shows 27 new investment funds were approved during the fourth quarter, with a total number of funds currently approved for domiciling or servicing in Guernsey standing at 1,012.

In Jersey’s fourth quarter, the total number of regulated collective investment funds increased by nine to 1,320, and the island also has 126 active unregulated funds.

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