First Quarter 2019
The net asset value of total funds under management and administration has decreased in Sterling terms during the quarter ended 31 March 2019 by £1.3 billion (0.5%) to £280.4 billion. For the year since 31 March 2018, total net asset values increased by £17.9 billion (6.8%).
Within these totals, Guernsey domiciled open-ended funds remained unchanged over the quarter at £42.5 billion. This represents an increase of £0.7 billion (1.6%) over the year since 31 March 2018.
The closed-ended sector decreased over the quarter by £2.1 billion (-1.2%) to £174.2 billion. This represents an increase of £6.4 billion (3.8%) over the year since 31 March 2018.
Non-Guernsey schemes, for which some aspect of management, administration or custody is carried out in the Bailiwick, increased
by £0.9 billion (1.4%) over the quarter to £63.7 billion. Since 31 March 2018, the net asset value of this sector has increased by £10.8 billion (20.5%).
Gross Asset Values and Gearing
The gross asset value of Guernsey open-ended funds as at 31 March 2019 was £57.4 billion, implying an average gearing level of 29.8%. The gross asset value represents an increase of £1.1 billion since 31 December 2018.
In the closed-ended sector, the gearing level is lower, with gross asset values of £191.2 billion (December 2018: £194.5 billion) implying a gearing level of 9.3%.
The gearing implicit in non-Guernsey open-ended collective investment schemes is approximately 0.6%, based on gross asset values of £64.0 billion (December 2018: £63.0 billion).
The detailed statistics are available here.