Guernsey: Value Of Funds Serviced In Guernsey Rises By 20%, Says Lipper
Last Updated: 9 November 2011

Fund assets serviced in Guernsey have risen by nearly 20%, according to Lipper's latest Guernsey Fund Encyclopedia.

The 17th annual analysis of the Island's fund sector, which is put together by Thomson Reuters, shows that fund assets serviced in Guernsey stood at $333 billion at the end of June 2011, up from $278.7 billion at the same time last year.

The Lipper research also reported that the total number of funds and sub-funds has fallen from 1,949 last year to 1,888 and that some $133 billion or 46% of the assets residing on the Island can be attributed to private equity and venture capital funds.

"While private equity is obviously crucial to Guernsey's success, there has also been strong growth among other alternative investment products and funds of funds. Added to this, non-domiciled fund assets serviced on the Island have again been growing," said Ed Moisson, head of UKI & Cross-border Research, Lipper.

The largest provider of legal advice on the island was Carey Olsen with 835 funds subscribed to it. Mourant Ozannes was second with 520 funds, Ogier was third with 204, and Bedell Cristin was fourth with 59.

Fund administration services are led by Northern Trust in terms of net assets with $67 billion. Ipes came in second at $42.7 billion, Apax Partners Guernsey came in third at $31.5 billion, State Street came in fourth at $19.8 billion and EQT Fund Managers came in fifth at $16.5 billion.

Northern Trust topped another category as well with $31.7 billion worth of assets under custody. HSBC Custody Services came in second with $20 billion, BNP Paribas Securities Services came in third at $8.1 billion, RBC Wealth Management came in fourth at $7.7 billion, and Credit Suisse came in fifth with $7.5 billion.

PricewaterhouseCoopers was the largest auditor of Guernsey serviced funds with 501. KPMG falls in at second with 454, Ernst & Young comes in at third with 206, and Deloitte comes in at fourth with 161.

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