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% to reach £2.7bn over the fourth quarter of 2015 and £8.2bn (3.7%) year-on-year to reach £227.6bn.
Jersey's statistics revealed a £7bn increase over the quarter – though a £3bn loss year-on-year – to £225.8bn in regulated funds under administration.
Simon Schilder said: "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."
He added: "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.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
