Growth in Guernsey's collective investment funds" sector continued to increase in the 12 months to the end of March this year with the total number of schemes rising from 311 to 335. Over the same period, assets under management increased 31% from £10.6 billion to a new record high of £13.9 billion.

Authorised open-ended schemes accounted for £9.1 billion worth of assets, a new high, while the value of assets in closed-ended funds also reached a record level of £4.8 billion.

Nigel Taylor, Superintendent of Investment Business, says: "Net sales from open-ended schemes in the first quarter totalled £331 million, which underscores the amount of interest in these schemes. With 12 more in the pipeline, mostly to invest in emerging markets, this encouraging trend looks likely to continue"

Since the end of March 1995 the total number of worldwide investors in Guernsey schemes have risen from 100,684 to 114,239.

NEW E-MAIL AND INTERNET ADDRESS

Please note: The Financial Services Commission has a new E-mail address which is info@gfsc.guernsey.net and its information site on the Internet can now be located on http://gfsc.guernsey.net

However, http://www.itl.net/go/to/GuernseyFSC will remain active for the foreseeable future.

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.

For further information contact Peter Crook on Tel: +44 (0) 1481 712 706 or fax: +44 (0) 1481 712 010.

Visit the Guernsey Financial Services Commission Web Site at Click Contact Link