The net asset value of total funds under management and administration grew by £10.8 billion (4.1%) over the quarter ended 30 June 2011 to £274.5 billion. For the year since 30 June 2010, total net asset values increased by £50.2 billion (22.5%).

 

Within these totals, Guernsey domiciled open-ended funds increased by £1,475 million (2.6%) over the quarter to £59 billion.  This represents an increase of £5.7 billion (10.7%) over the year since 30 June 2010.  The closed-ended sector saw growth over the quarter, with an increase of £7.5 billion (6.5%) to reach £122.3 billion.  This represents an increase of £28.3 billion (30.1%) over the year since 30 June 2010. Non-Guernsey schemes, for which some aspect of management, administration or custody is carried out in the Bailiwick, increased by £1.9 billion (2.1%) over the quarter to £93.1 billion.  Since 30 June 2010 the net asset value of this sector has increased by £16.2 billion (21.1%).   

The gross asset value of Guernsey open-ended funds as at 30 June 2011 was £70.7 billion, implying an average gearing level of 19.7%.  The gross asset value represents an increase of some £1.3 billion since 31 March 2011. In the closed-ended sector, the gearing level is slightly lower, with gross asset values of £139.7 billion (March 2011: £125.4 billion) implying a gearing level of 14.2%.  The gearing implicit in non-Guernsey open-ended collective investment schemes is approximately 9.1%, based on gross asset values of £101.6 billion (March 2011: £ 97.6 billion). 

 

The detailed statistics are available here.

 

 

During 2009 the Commission and the investment sector consulted on the introduction of statistical returns for the non-fund sector and this is the eighth quarter for which the results are available.

 

Returns were provided by 110 firms (March 2011: 106) confirming:

 

Gross Assets under Management:      £81.4 billion               (March 2011: £78.4 billion)

Turnover of Stockbroking Activities:  £430.8 million             (March 2011: £376.5 million)

Number of Accounts:                          10,717                        (March 2011: 10,824)

 

 

Gross Assets under Management means the gross assets of all managed accounts held by the licensee.  This will include both discretionary and non-discretionary managed accounts but excludes execution only type business.

 

Turnover of Stockbroking Activities means the value of stockbroking activities undertaken by the licensee during the quarter and includes the total consideration, including commission, relating to these activities.

 

Number of accounts includes the number of clients with which the licensee has an agreement to provide investment business services within the scope of the licence issued under the Protection of Investors (Bailiwick of Guernsey) Law, 1987.  This covers, but is not limited to, discretionary and non-discretionary accounts, advisory accounts, stockbroking accounts and portfolio management accounts.

 

Enquiries to:    Carl Rosumek, Director of Investment Business

                        Emma Bailey, Deputy Director of Investment Business

 

Tel:    (01481) 712706           Fax:    (01481) 726952

International Dialling Code:    +44 1481

E-mail:    ebailey@gfsc.gg

 

August 2011