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Guernsey investment funds reach GBP 70 billion level

Investment funds under management and administration in Guernsey increased by GBP 5.5bn in the three months to 30 September 2004 to reach GBP 69.1bn.

Talmai Morgan, Chief Executive of Guernsey Finance, said: "Once again, the figures are good news - particularly the fact that the increases are pretty much across the board.  The omens are good, especially in the light of the recent proposals to streamline the approval process for funds aimed at professional, experienced and knowledgeable investors. These proposals should make Guernsey an even more attractive centre for the administration of funds.  Things are definitely going in the right direction."

John Le Prevost, Chairman of the Guernsey Fund Managers Association, said: "The figures show good growth in value terms over the past quarter, thus continuing what is becoming an established trend.  What is more interesting is the fact that Guernsey has seen more new funds launched already this year than were launched in the whole of the previous year.  This reflects the increasing attractiveness of Guernsey as a jurisdiction in which to domicile investment fund business."

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