Third Quarter 2018
The net asset value of total funds under management and administration has increased in Sterling terms over the quarter ended 30 September 2018 by £4 billion (1.4%) to £280 billion. For the year since 30 September 2017, total net asset values increased by £11 billion (4.1%).
Within these totals, Guernsey domiciled open-ended funds increased by £0.4 billion (0.8%) over the quarter to £43.6 billion. This represents a decrease of £0.3 billion (-0.7%) over the year since 30 September 2017.
The closed-ended sector increased over the quarter by £3.9 billion (2.3%) to £172.1 billion. This represents an increase of £6.1 billion (3.7%) over the year since 30 September 2017.
Non-Guernsey schemes, for which some aspect of management, administration or custody is carried out in the Bailiwick, decreased by £0.3 billion (-0.5%) over the quarter to £64.4 billion. Since 30 September 2017, the net asset value of this sector has increased by £5.4 billion (9.1%).
Gross Asset Values and Gearing
The gross asset value of Guernsey open-ended funds as at 30 September 2018 was £58 billion, implying an average gearing level of 28.3%. The gross asset value represents an increase of £0.8 billion since 30 June 2018.
In the closed-ended sector, the gearing level is lower, with gross asset values of £189.3 billion (June 2018: £183.7 billion) implying a gearing level of 9.5%.
The gearing implicit in non-Guernsey open-ended collective investment schemes is approximately 0.1%, based on gross asset values of £64.5 billion (June 2018: £64.8 billion).
The detailed statistics are available here.